Our last projection for EURUSD still stands as the pair reached a high of 1.1577 two days ago. The euro fell below the triangle support, which may lead to further downside.
Euro: Limited upside against US Dollar on fully priced ECB – ING
Euro: Downside risk against US Dollar as ECB hikes – BBH
Euro: Testing support against US Dollar with ECB risk – Societe Generale
The ECB is widely expected to raise rates by 25 basis points to 2.25% as it continues to battle inflation. Eurozone inflation rose to 3.2% in May, while core inflation, which strips out food and energy prices, remained elevated at 2.5%.
On 11 June, the ECB is holding the second day of its Governing Council meeting. The interest rate decision will be announced at 14:15 CET, followed by a press conference by Christine Lagarde at 14:45 CET.
Euro: Downside risk capped by 1.1500 against US Dollar – UOB
EUR/USD Price Forecast: Downward-sloping 20-day EMA reflects bearish tone, ECB policy awaited
The Euro to Dollar (EUR/USD) exchange rate has stabilised near 1.1540 after last week's sharp decline, with the pair attempting to recover from a slide that pushed it briefly below 1.15. Scotiabank remains cautiously constructive on the Euro, noting that rising Eurozone-US yield spreads are providing underlying support for the single.
Our last projection for EURUSD still stands as the pair reached a high of 1.1577 yesterday. The euro fell below the triangle support, which may lead to further downside.
Euro: Downtrend against US Dollar targets lower supports – UOB
EUR/USD Price Forecast: Flattens around 1.1545 ahead of US Inflation data