ECB’s Kocher: no secondary effects observed at present | Metals Mine

  • ECB’s Kocher: no secondary effects observed at present

Added at 12:05am

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ZforexCM
10 hr ago
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EUR/USD remained around 1.1420 as softer U.S. inflation weakened the dollar and sharply reduced expectations of a July Federal Reserve rate hike. However, the pair's upside remains limited. Ongoing tensions in the Middle East continue to support safe-haven demand for the dollar, while the risk of higher energy prices keeps the longer-term inflation outlook uncertain.

The euro is also finding support from expectations that the ECB could continue raising interest rates later this year, but traders are likely to stay focused on upcoming U.S. PPI data and developments around the Strait of Hormuz for the next directional move.

The first resistance is positioned at 1.1465 while the support starts from 1.1400.

R1: 1.1465 | S1: 1.1400
R2: 1.1500 | S2: 1.1360
R3: 1.1530 | S3: 1.1300
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Trader#EFC4
12 hr ago
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wah
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