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- EUR/USD: The risk of a 1.05 break is still non-trivial – TDS
EUR/USD: The risk of a 1.05 break is still non-trivial – TDS
The ECB hiked its key rates by 50 basis points today. EUR/USD is back below 1.0600 and could decline under 1.0500, economists at TD Securities report.
ECB hiked rates by 50 bps
“ECB delivers the 50 as they leaked to the press the other day. No LTROs announced, but the statement mentioned a willingness to provide liquidity if needed. Moreover, there was no indication in the statement of future policy hikes.”
“For now, the key ranges are intact, but the risk of a 1.05 break in EUR/USD is still non-trivial, especially given USD/JPY's breach of 132.00/40 (key support). That leaves EUR/JPY vulnerable to 138, especially with next the major support in USD/JPY coming around 130.”
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