EUR/USD tests key level (1.1578) as the ECB's hawkish stance battles downside risks from Middle East conflict and spiking energy costs. The article analyzes the "April Hike" wildcard, NFP volatility, and critical technical levels.
EUR/USD remains under pressure below the 200-day EMA, with rallies likely to be faded unless the pair can reclaim 1.1650 and shift the near-term outlook.
EUR/USD: Conflict keeps downside risks in play – MUFG
EUR/USD: April hike risk supports Euro – ING
EUR/USD Forecast: Euro clings to bullish bias after hawkish ECB tone
EURUSD pushes for an uptrend The Euro continues its upward trajectory after the ECB keeps its interest rate unchanged to stabilise inflation. The pair saw a further uptick as prices tested 1.1560, which has become the next hurdle, and only a close above this level would maintain the rally towards 1.1680.
EUR/USD corrects to near 1.1560 as USD gains ground
EUR/USD surges over 1% as ECB rate hike talk hits USD
EUR/USD advances as ECB holds rates steady, USD eases from post-Fed highs
EUR/USD Price Forecast: 1.1400 to be key support level after ECB's policy outcome
The Euro retreated from the resistance of 1.1655 and managed to close from the target and support of 1.1400 last Friday before rebounding as expected. The market is still facing pressure towards the 1.1200 zone with resistances at 1.1555 and 1.1655.
EUR/USD Forecast: Euro sellers step away as focus shifts to ECB