The euro (EUR) continued to fall after reaching a maximum of more than 3 years of 1,1570. The EUR was last placed at levels of 1,1350, the FX FX analysts Frances Cheung and Christopher Wong point out.
Bass risks down
“The unworthy in the anguish by the tariffs is helping the market movements, which were tense, normalize. In addition, the ECB officials have become more moderate. Rehn of the ECB said that the ECB should continue to reduce interest rates in their next meeting in June if the forecasts show that the inflation of the eurozone falls below the objective of the 2% of the ECB. Discard larger rates cuts. “
“The ECB chief economist, Lane, said there is no reason to affirm that a 25 basic points movement is always the predetermined, although it would not commit to any trajectory of rates. Separately, the ECB is considering changing its monetary policy strategy to allow more agile responses to pricing shocks as the global environment becomes increasingly volatile. This will be discussed in an informal retreat on May 6 and May 7 Portugal. “
“The bullish impulse in the daily chart is fading while the RSI fell. The risks are biased down. Support in 1,1290 before 1,1235 (fibonacci setback of 23.6% of the minimum to the maximum of 2025) and 1,1160 (DMA of 21). Resistance in 1,1410, 1,1570 (recent maximum).”
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.
