Euro nudges up above 1.1640 amid broad-based US Dollar weakness
EUR/USD Price Forecast: Bullish bias remains above 1.1600 ahead of ECB and US inflation
EUR/USD remains vulnerable to another near-term dip ahead of Thursday's ECB meeting, where a 25bp rate hike is already largely priced in. The bigger focus will be on the ECB's inflation projections and guidance, particularly whether rising energy costs are seen as temporary or a reason to keep tightening later this year.
Euro: Upside bias within defined range against US Dollar – UOB
Euro: ECB expectations support EUR against US Dollar – Scotiabank
Euro holds steady as US Dollar struggles for traction
EUR/USD: Moved lower and banked +36 pips +3%
Euro: Downside risks against US Dollar into ECB and Fed – ING
EUR/USD Price Forecast: Remains sticky to 20-day EMA
The Euro hit a correction towards the target and support of 1.1570, as the market still holds above this support since last week. As we see from the chart and as long as the market holds above this support, a rebound towards 1.1710 is likely.
U.S. inflation and the ECB decision take focus as DXY remains weak, EUR/USD approaches a breakout and GBP/USD stays range-bound.
A key week for EUR/USD: ECB decision and us inflation in focus