Price Movement Since yesterday, EUR/USD moved down by around 50pips.
Trend Overall, EUR/USD is trending upwards.
Important Issue Yesterday during an interview with Bloomberg, Federal Reserve Bank of St. Louis President James Bullard highlighted that an insurance Fed rate cut now may be necessary as inflation target has been running below target. He also mentioned that a 50 basis point (0.50%) rate cut would be “overdone” whereas a 25 basis point (0.25%) rate cut seems more appropriate.
Technical Yesterday, EUR/USD tested and rejected the 1.14 key level.
Price Levels Current Price: 1.13570 Next Resistance: 1.15000 Next Support: 1.13300