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

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