ANALYSIS
NQ100 Finds Support from PPIApr 14
Selling Pressure May Continue in EURUSD
The fact that industrial production in the Eurozone indicated a %2.4 contraction on an annual basis in July continued to keep the recession risks alive, putting weight on the euro. In addition, as the consumer inflation data announced in the USA surpassed expectations yesterday, the rise in the possibility of a 75 basis point tightening before the critical September meeting of the FED has strengthened the dollar and put the parity under pressure. Technically speaking, in the EURUSD parity, which continues to defend the descending channel movement, selling pressure can last up to 0.9900 support if it can be permanently passed below the 0.9955 level. In possible upward attempts, resistances of 1.0045 to 1.0090 can be considered.
