EUR/USD: Scope for a nosedive to the 1.1704 mark – OCBC

The post-FOMC USD surge persisted on Friday, with the USD broadly firmer across the G-10 space. Key support levels on the EUR/USD were breached, leav  |  21/06/2021 08:49

The post-FOMC USD surge persisted on Friday, with the USD broadly firmer across the G-10 space. Key support levels on the EUR/USD were breached, leaving the pair still biased lower, for now, economists at OCBC Bank report.

Comments from Bullard about a late-2022 lift-off gave more credence to the dot plot

“The rapid breach of supports post-FOMC may signal more downside for the EUR/USD.” 

“Juxtapose Bullard’s late-2022 lift-off against comments from ECB’s Lane pushing back against looking at the Sep ECB meeting as a key meeting to reduce monetary support. This should reinforce the divergence between the two, and leave the EUR/USD impinged on a structural basis.”

“1.1800 and the April low at 1.1704 may be a multi-session target for now.” 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com