The EUR/USD currency pairing
- Prev Open: 1.0334
- Prev Close: 1.0325
- % Chg. for the Last Day: -0.09%
This week, the euro will gain momentum as the European Central Bank announced that it would repay early by Eurozone banks so-called TLTRO loans. This will lead to tighter financial conditions on regional markets and depleting excess liquidity. ECB Vice President Luis de Guindos, who oversees financial stability analysis at the ECB, echoed officials’ current mantra yesterday about inflation risks and the need to keep raising interest rates. He spoke out about how liquidity and market threats have changed. He also noted that the price correction after the Russian invasion in Ukraine had already begun. Banks may be at greater credit risk because of vulnerabilities in the real estate market.
- Support levels: 1.0194, 1.0092, 1.0043, 0.9993, 0.9838, 0.9794, 0.9755
- Resistance levels: 1.0363, 1.0411, 1.0504
Technically, the EUR/USD currency pair trend is bullish on an hourly basis. The price is trading higher than the moving averages and the MACD indicator has moved into the positive zone. However, the buying pressure is…