ANALYSIS
NQ100 Finds Support from PPIApr 14
The Continuation of the Pressure in the EURUSD Is Possible
Today, we have seen that the euro is trying to recover somewhat as a result of the hawkish messages of some leading officials of the European Central Bank (ECB) to curb high inflation. However, recession concerns in Europe remain the main driving force of the pressure on the euro. In addition, the dollar continues to weigh on the currencies of developed countries, with the strengthening prospects of a 75 basis point interest rate hike just days before the FED's critical September meeting. As a matter of fact, US 10-year bond yields have also risen to the highest levels in 3 months with %3.45. In the technical outlook, the level of 1.0025 is determinant in parity pricing. With the intense selling pressure that will be in effect as long as this area is maintained as resistance, it is quite likely that the parity will retreat to 0.9875, which was last seen on July 7th, behind 0.9930. In the possible transition above 1.0025, the range of 1.0070 – 1.0130 can work as a balancing zone.
