Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Mar 07 - 08:55 PM

EUR/USD - Opens Lower As Powell Comments Reset Fed Expectations

By John Noonan  —  Mar 07 - 06:40 PM
  • EUR/USD opens -1.26% after Fed Chair Powell was more hawkish than expected nL1N35F184

  • Short-term US yields soared and risk assets tumbled to underpin the USD

  • EUR/USD came close to the Feb 27 low at 1.0533 to validate it as support

  • More support @ the 100-day MA at 1.0519, which was last breached in November

  • Objective of move is the 38.2 of the Sept/Feb rise at 1.0458

  • Resistance is at the 10-day MA at 1.0600 where sellers are tipped

  • Market was caught out by Powell comments as it was pricing in rates peaking

  • The volatile swing lower has set the table for the US jobs report on Friday

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved