EUR/USD bulls engage ahead of Federal Reserve and European Central Bank – by fx_ross EURUSD Fed ECB SEO
are also set to announce interest rate decisions next week and are expected to act in order to thwart stubbornly high inflation.
''We currently expect European Central Bank rate hikes into Q1 next year, with the deposit rate peaking at 2.75%, but with risks skewed for more hikes,'' the analysts added. While on the front side of the daily trendline, EUR/USD bulls are firming from near 1.0480 support and are taking on resistance around 1.0570. A break there opens the risk of a move in EUR/USD beyond 1.0600:below the trendline, however, will expose supports near 1.0490 and 1.
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