The euro (EUR) remained little changed, last at levels of 1,1415, the FX analysts of OCCB, Frances Cheung and Christopher Wong point out.
Space for the Fed to resume the flexibility cycle in due time
“The daily impulse does not show a clear trend for now while the RSI fell. Support in 1310 (SMA of 21 days), 1235 (fibonacci setback of 23.6% of the minimum to the maximum of 2025). Immediate resistance at levels of 1,1420/30 before the levels of 1.15.”
“Last week, the ECB reduced the rate at 25 basic points, as was widely anticipated. But more important no less due to US business policies “
“Other ECB officials have also expressed similar opinions. Vujcic said that the ECB is almost finished, while Stournaras mentioned that the bar for more feat cuts is high. Our opinion is that a more cut is expected this year, but this is already more than discounted. The signage of the ECB that ‘the end is close’ reinforces our previous opinion that the perspectives of the Cyc of the ECB Fed resumes the flexibility cycle in due time the differential differentials in favor of the EUR should be narrowed. “
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.
