ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD has completed its recovery movement
Record breaking consumer inflation data released yesterday by Eurostat and the European Central Bank officials remarks that the ECB may increase rates in Q4 2022 have support the pair upwards. However, the US Federal Reserve side’s statements that they will hike rates by 7 times this year and start reducing the balance sheet have had more significant influence on the pair. Thus, the pair has completed its recovery movements. If it becomes permanent below 1.1000 level, we will follow 1.0945 closely. On the other side, 1.1100 resistance will be important in possible bullish moves.
