ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD May Update 20-Years Low
Although the interest rate hike messages of the Members of the Board of Directors of the European Central Bank (ECB) against high inflation recently have somewhat recovered the euro, it seems that the dollar, strengthened by the expectations of a 'jumbo' interest rate hike to be announced by the FED at the monetary policy meeting today, is the main scenario of the pressure on the parity. As a matter of fact, the US 10-year bond yields rose to %3.60, renewing their 11-year high. Under this outlook, if the EURUSD parity, which has changed the channel in the downtrend, is permanently dropped to the 0.9860 level, the regression may continue until the 0.9815 support, which will be the lowest level of nearly 20 years. In the possible upward scenario, 0.9960 and psychological 1.0000 resistances may come to the fore.
