The EUR/USD moved lower on Tuesday pushing through support near the 50-day moving average at 1.1124. U.S. yields continued to outperform European yields
The EUR/USD moved lower on Tuesday pushing through support near the 50-day moving average at 1.1124. U.S. yields continued to outperform European yields making the greenback more attractive. The next level of target support is an upward sloping trend line at 1.10. Resistance is seen near the 20-day moving average at 1.124.
The ECB President will testify before the European Parliament Wednesday and expectations that he will deliver a very dovish statement are mounting. The ECB’s official line at the last meeting was that it’s too early to assess the impact of global headwinds for the inflation outlook, but that the ECB is ready to act again if the objective is being pushed further out.
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.
