ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD in the Lowest of 20 Years
Yesterday, the US Federal Reserve's (FED) interest rate hike by 75 basis points in line with the expectations of the markets, and the upward revision of inflation expectations in the economic projections report increased the pressure on parity. As a matter of fact, the US 10-year bond yields have climbed to the highest level in 11 years with %3.64 level. Under this outlook, the EURUSD parity is unlikely to make a meaningful recovery unless the 0.9960 level indicated by the 50-period exponential moving average is exceeded and if it can be passed behind the 0.9815 level permanently in the EURUSD parity, the decline may continue until the 0.9755 support, which will be the 20-year low. In case of possible crossover above 50 EMA, 1.0020 resistance may be brought to the agenda.
