The European Central Bank (ECB) assembly might form as much as be a really significant one for EUR/USD. A extra hawkish ECB might assist to bolster a bottoming-phase within the pair round 1.08, economists at TD Securities report.
1.0950/60 will probably be a notable resistance marker for EUR/USD
“Whereas we nonetheless assume that EUR/USD has some kinks to iron out early this quarter as commerce flows are re-oriented to replicate a shift in commodity channels, a extra hawkish ECB might assist to bolster a bottoming-phase in EUR/USD round 1.08. This can require proof of a topping out in US inflation, which we could have acquired the primary learn of earlier this week.
“1.0950/60 will probably be a notable resistance marker for EUR/USD. A break above this adopted by a transfer above 1.10 will probably be technically important.”
See – ECB Preview: Forecasts from 12 major banks, tighter policy in response to higher inflation
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