ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD is heading downwards
The current decline in EURUSD subdivides into many waves, and it seems like the pair is in wave 2 now.
European Central Bank hasn’t been as hawkish as expected by financial markets, leading to pressure on euro. In addition, expectations that Fed will act quickly and hike rates against rising inflation have put additional pressure on euro against dollar. Furthermore, US10Y treasuries are still high around 2.84. Technically, 1.0720 support will be critical. On the other side, 1.0840 and 1.0880 resistance levels will be on our radar.
