ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD:30 WMA Will Be Decisive in Parity
As reported by London-based global information provider IHS Markit, the pair recovered somewhat after the manufacturing purchasing managers index (PMI) data in the Eurozone pointed to a strong expansion in May with 54.6 points, above market expectations. However, Louis FED President James Bullard's statement that a 50 basis point rate hike per meeting under the outlook of high inflation was a good plan with the balance sheet tightened, the dollar's outlook strengthened, while the high levels of the US 10-year bond yields, which are about 2.90 percent in current terms, put the parity under pressure. Technically speaking, if the 1.0625 level can be left behind permanently in the EURUSD parity, where the pressure will continue as long as it remains below the 1.0720 level indicated by the 30-period weighted moving average, it can bring the support of 1.0575, the lowest level since May 23, to the agenda. 1.0765 resistance will be in an important position in the transition above the possible 30 WMA.
