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Feb 22 - 07:55 PM

EUR/USD - Opens Lower As Fed Outlook Supports USD

By John Noonan  —  Feb 22 - 06:00 PM
  • EUR/USD opens -0.41% after Fed minutes cemented hawkish Fed outlook nL1N3520YD

  • Close below 76.4 fibo at 1.0612 confirms bearish outlook for EUR/USD

  • Next level of decent support is at the 2023 low at 1.0483

  • Trend lower accelerating with the 5, 10 & 21-day MAs in a bearish alignment

  • Resistance is at the 10-day MA at 1.0673 and break would ease pressure

  • EUR/USD likely to struggle while Fed outlook remains hawkish

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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