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13.03.2023 09:33 AM
EUR/USD: price bounces upward

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EUR/USD

Euro climbed upwards despite expectations of a Fed rate hike.

Many were counting on a price decline as Fed Chairman Jerome Powell insisted on a hawkish stance, talking about the Fed's intention to raise rates harder and faster. However, such a move was not sustained.

Now, the market expects the ECB to pursue a 0.5% rate hike next Thursday.

There could be moves as early as tomorrow because ahead is the US CPI inflation report for March.

Nevertheless, the forecast is still the same, that is, euro will rise to the target level of 1.1000.

Keep buying from 1.0530.

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2024
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