The EUR/USD traded an inside day which reflects indecision after edging out a 1.0603 low in the Asian session. Currency traders are still trying to get a
The EUR/USD traded an inside day which reflects indecision after edging out a 1.0603 low in the Asian session. Currency traders are still trying to get a handle on Trump’s policies to determine if he is dollar bullish or not. The market has now priced in 3-rate hikes, which should keep U.S. yields elevated, and buoy the greenback.
Resistance on the currency pair is seen near the 10-day moving average at 1.0633, while support is seen near the February lows at 1.0520. Momentum remains negative as the MACD (moving average convergence divergence) index prints in the red with a downward sloping trajectory which points to a lower exchange rate.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
