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Apr 22 - 08:55 PM

EUR/USD - ECB Ready To Cut Rates - Large 1.0650 Strikes

By Andrew M Spencer  —  Apr 22 - 07:15 PM
  • Steady after closing down just 0.05% with the U.S. dollar little changed

  • ECB governors stick to plan for multiple rate cuts, despite the cautious Fed

  • June ECB cut is priced, but the timing of future cuts are data-dependent

  • Charts- 10 and 21-day moving averages, plus 21-day Bollinger bands slide

  • Daily momentum studies show mixed signals after an inside day - net bearish

  • 1.0594, 0.786 of the October-December rise remains the initial support

  • The 1.0695 prior 2024 low in February is the initial significant resistance

  • 1.0650 1.446 BLN strikes may act as a magnet today in Asia

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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