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Sep 21 - 08:55 PM

EUR/USD - Slumps As Hawkish Fed Encourages Fresh USD Buying

By John Noonan  —  Sep 21 - 07:15 PM
  • EUR/USD opens -1.3% @ fresh trend low after hawkish Fed hike sent USD higher nL1N30S24H

  • Fed managed to exceed hawkish Fed expectations with aggressive dot-plot

  • Ukraine uncertainty also weighs as EUR fell against all major currencies nL1N30S0RY

  • Technicals and fundamentals make it difficult to justify long EUR/USD

  • There isn't any support of note until monthly low at 0.9608 made in Sep 2002

  • Resistance at former support at 0.9864 and 0.9975/80 where the 10 & 21-day MAs converge

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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