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Jul 16 - 03:48 PM
EUR/USD - Fed Speak Can't Reduce Data Induce Pressure
First appeared on eFXplus on Jul 16 - 01:35 PM
  • Pair heavy in NY; DE ZEW & US sales data help sink the pair
  • Thin daily cloud breaks as DE-US spreads widen & chance of Fed cuts reduced
  • Bears target July 9 & June 18 daily lows & techs suggest those test are due
  • Pair trades below daily cloud & 55-DMA while daily RSI deepens its bear bias
  • Fed's Kaplan & Powell comments can't lift EUR/USD
  • EUR/USD shorts need a big assist from the ECB to see new lows

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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