ANALYSIS
NQ100 Finds Support from PPIApr 14
Psychological 0.9800 in EURUSD To Be Followed Closely
The euro recovered a bit when last Friday, European Central Bank (ECB) President Christina Lagarde emphasized that inflation is very high in the region and pointed out that they could raise interest rates in a few more meetings. However, we see that the recovery in question is not permanent in the shadow of the recession risks in the region and of the inflation rates continuing their upward trend. On the other hand, the US dollar maintains its strong outlook. On the technical side, the psychological 0.9800 level is in a critical position in the EURUSD parity, which continues to defend the descending channel movement. In their permanence below here, the retreat could extend to 0.9660, after 0.9700 support. In the possible transition above the psychological 0.9800, 0.9845 resistance can be followed.
