After leaving the downward channel in late May, ERUUSD has been trapped in a relatively tight zone and waiting for a push to break it, either to the downside or the upside. All depends on what Christine Lagarde says today!
I think EURUSD has a bullish bias, with more room to the upside than the downside. If it breaks the upper limit, my target is 1.0930.
Otherwise, I expect it to hold the support at 1.06.
I think EURUSD has a bullish bias, with more room to the upside than the downside. If it breaks the upper limit, my target is 1.0930.
Otherwise, I expect it to hold the support at 1.06.
Comment:
no 50bp hike in July. EURUSD broke down, hit 1.06 and heading to a lower support at 1.05.