The EUR/USD made seven-month lows of a 1.0675, before stabilizing just under the 1.0700 mark. Comments from the ECB's Liikanen, who repeated the ECB is
The EUR/USD made seven-month lows of a 1.0675, before stabilizing just under the 1.0700 mark. Comments from the ECB’s Liikanen, who repeated the ECB is willing and able to act if necessary, turned the euro market a tad more bearish. Given the divergent policy paths between the Fed and the ECB, EUR/USD downside appears likely to continue.
Resistance on the currency pair is seen at former support near the July lows at 1.0806. Support is near the March lows at 1.0480. Momentum remains negative with the MACD (moving average convergence divergence) index printing in the red with a downward sloping trajectory.
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.
