ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD:100 WMA Will Be Decisive in Parity
The European Central Bank's (ECB) tightening of interest rate hike messages despite inflation concerns about the Euro Zone has been supporting the pair recently. However, despite the recession concerns in the USA, the Central Bank (FED) Chairman Jerome Powell's pointed out that it would be appropriate for the bank to continue to raise interest rates weighed on parity. In addition, the data of the Ifo Institute of Economics Research in Germany has also had an impact on the business climate index's decline to 92.3 points, below market expectations. From a technical point of view, as long as the 100-period weighted moving average remains below the 1.0575 level, selling pressure is likely to continue in the parity, if the psychological 1.0500 support can be crossed with permanent closes, a regression can be recorded to the 1.0465 support. Possible crossover above 100 WMA, 1.0610 resistance will follow.
