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Dec 14 - 07:55 PM

EUR/USD - Opens Higher After Fed And Ahead Of ECB

By John Noonan  —  Dec 14 - 06:15 PM
  • EUR/USD opens +0.49% after choppy reaction to hawkish 50bp Fed hike

  • It initially dropped t0 1.0620 after Fed's aggressive dot plot nL1N3331I0

  • EUR/USD recovered when bond market shrugged off Fed and pushed yields lower nL1N3342W5

  • EUR/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • A break below the 10-day MA at 1.0562 would warn trend is losing momentum

  • Resistance is at the 61.8 of the 2022 high-low at 1.0743

  • ECB meets later today with the market expecting a 50 bp hike nL8N3344KT

  • EUR/USD appears to be heading higher if ECB delivers a hawkish hike

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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