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Some good shopping for the euro
EUR/USD is not the place I might have anticipated to see among the most-aggressive USD promoting after the surprisingly hawkish feedback from Powell however that is the way it’s unfolding.
Whether or not that is attributable to month-end or real euro-buying curiosity is one other story.
For now although, the euro has recovered to the 50% retracement of the drop. It might want to get above 1.1332 and the 61.8% retracement to persuade me this is not a bounce to think about promoting.
Within the greater image, there’s some help at 1.1160 that the euro is making an attempt to carry. Nonetheless if omicron will get worse and the Fed does maintain off on the taper, there’s scope for 1.1500 on the upside.Put money into your self. See our foreign exchange training hub.
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