ANALYSIS
NQ100 Finds Support from PPIApr 14
The Rebounds In EURUSD Has Not Been Permanent
The statements of the leading Board Members of the European Central Bank (ECB) gave some support to the euro. However, yesterday, the fact that consumer inflation in Germany, the leading economy of the region, hit double digits for the first time since 1951, with 10.0% on an annual basis in September, prevents the euro from entering a meaningful recovery path. On the other hand, the fact that the dollar maintains its strong stance despite the slight moderation also has an impact on parity. Technically speaking, it is observed that the descending channel view is preserved in the EURUSD parity, which ended the recovery movements by breaking the rising trend. In this context, the psychological level of 0.9700 will be closely followed by market actors. In case of transitions below this level, a pullback may occur until the 0.9655 support. In possible upward attempts, 0.9800 resistance remains important.
