ANALYSIS
NQ100 Finds Support from PPIApr 14
Sales might continue in EURUSD
ECB President Lagarde’s statement that they will highly likely to increase rates in 2022 gave a slight momentum to the index. However, negative effects of the late response of the Bank against high inflation continue. On the other hand, US Federal Reserve is expected to increase rates by 50 bps and communicate on aggressive monetary tightening, leading to pressure on EURUSD. In addition, high treasury rates and strong stance of US dollar are significant factors on this pressure. Technically, the pair continues to move within the descending trend. If it exceeds 1.0485, we will follow 1.0450 support. On the other side, 1.0555 and 1.0590 resistance levels will be on our radar.
