EUR/USD falls to the lows of 1.0800. The economists of Scotiabank They analyze the pair's prospects.
The short-term bearish trend is gaining momentum
The president of the ECB, Christine Lagarde reiterated that policymakers need more evidence that inflation is receding but, if the data results are in line with current expectations, the central bank may begin to reduce rate hikes in June.either. Thereafter, the ECB will continue to rely on data and will not commit in advance to take action.
The short-term bearish trend is gaining momentum, but the daily DMI study remains neutral for now.
A break below 1.0840 would test 1.0775/1.0800 (easily).
Resistance is at 1.0875.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
