ANALYSIS
NQ100 Finds Support from PPIApr 14
The Pressure May Continue in EURUSD
As the European Statistics Office (Eurostat) reported, the pressure on the euro eased somewhat, with the euro area's gross domestic product (GDP) growing by 0.6 percent in the second quarter compared to the previous quarter. However, recession risks due to high energy prices have not been ruled out yet. On the other hand, in the minutes of the FOMC meeting today, the possibility of another 75 basis point rate hike by the FED weighs on the parity. From this point of view, 1.0115 support will be followed closely in EURUSD parity where selling pressure continues in the descending channel on the third trading day of the week. If it can be passed below this, the regression can continue until the 1.0060 support. Market participants can look for resistances of 1.0220 and 1.0275 during uptrends.
