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May 01 - 06:55 AM

EUR/USD - Level To Watch If Fed Can Move It

By Jeremy Boulton  —  May 01 - 05:20 AM
  • EUR/USD trading lower ahead Fed rate decision at 18GMT nL1N3H40BN

  • Pair which reached 1.0753 EBS on Apr 26 drops to 1.0650 on May 1

  • April low was 1.0601 and 1.0596 is the level to watch

  • A drop below 1.0596 would target return to 2023 low at 1.0448

  • Base 20-day Bollinger bands at 1.0561 allows room for a drop

  • Bonds safer than they used to be - may influence FX nL1N3H40ES

Source:
Refinitiv IFR Research/Market Commentary

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