EUR/USD, H4 15 March 2024
The EUR/USD pair sustained bearish momentum driven by US Dollar appreciation following
stronger-than-expected inflation data. Diminished expectations for Fed interest rate cuts in the short term contrasted with upcoming ECB policy maker comments on monetary policy prospects in Europe. Investors monitored monetary statements for further trading signals amidst ongoing market volatility.
EUR/USD is trading lower while currently testing the support level. Suggesting the pair might extend its losses after breakout.
Resistance level: 1.0960, 1.1005📉
Support level: 1.0870, 1.0800📈
The EUR/USD pair sustained bearish momentum driven by US Dollar appreciation following
stronger-than-expected inflation data. Diminished expectations for Fed interest rate cuts in the short term contrasted with upcoming ECB policy maker comments on monetary policy prospects in Europe. Investors monitored monetary statements for further trading signals amidst ongoing market volatility.
EUR/USD is trading lower while currently testing the support level. Suggesting the pair might extend its losses after breakout.
Resistance level: 1.0960, 1.1005📉
Support level: 1.0870, 1.0800📈