ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD: Selling Pressure Retains on Pair
Members of the European Central Bank (ECB) are trying to provide some support to the pair with the start of comments on gradual tightening. As the producer inflation data released in the US (PPI) exceeded market expectations, the expectation that the Federal Reserve (FED) will not reduce the monetary tightening momentum continues to put selling pressure on the pair. Technically, the pair, which is closely linked to the descending channel movement, can continue its decline to the support at 1.0330, which it has seen since January 2017, if it permanently leaves behind the support at 1.0370. In case of possible attacks to the upside, the resistance level of 1.0450 - 1.0495 remains important.
