EURUSD is showing Bullish route with maximum Support.

EURUSD is showing Bullish route with maximum Support.

Scotiabank: EUR/USD: Break below 1.0840 to consider a test of 1.0775/1.0800

The short-term decline is intensifying.

Central Bank President Lagarde said that although policymakers require additional proof that inflation is declining, they can begin reducing rate hikes in June if data results are consistent with current projections. After then, the ECB would continue to rely on data and would not make any policy decisions in advance.


Although the daily DMI research is now neutral, the short-term downturn is gaining strength.

A test of 1.0775/1.0800 becomes (easily) relevant at a break below 1.0840.

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COMMENT, FOLLOW and SUPPORT.

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After the Fed-inspired rise on Wednesday, EUR/USD continued its downward reversal below 1.0900. The Euro finds it challenging to hold onto its momentum and limit the pair's upside before US data. This is due to mixed PMI data from Germany and the Euro region.

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