EUR/USD Outlook: balanced tone from ECB chief Lagarde keeps the euro at familiar levels for now
|EUR/USD
The Euro refrained from stronger reaction on comments from ECB President Christine Lagarde, with spike above 1.11 handle on remark pointing to moderate increase in inflation, being short-lived. Lagarde's comments on press conference were generally balanced as she pointed to moderate increase in underlying inflation and moderate growth of the bloc's economy, but also signaled prolonged accommodative policy and short-term risk will remain shifted to the downside. The EURUSD pair so far remains within existing range, with key Fibo support at 1.1079 holding and keeping the risk of extension of larger downtrend limited, while today's repeated upside rejection signals that bulls are lacking strength for more significant recovery attempts and suggesting the pair may hold in prolonged sideways mode.
Res: 1.1105; 1.1132; 1.1140; 1.1152
Sup: 1.1079; 1.1070; 1.1041; 1.1000
Interested in EUR/USD technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.