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Bank of Canada hiked overnight rate for the third time in this cycle. Market reaction was messy. There appears to have been a leak which prompted sell-the-fact trade about 20 seconds before the release. Price then whipsawed in a 150-pip range before settling in the middle. 1.24 is the initial support, 1.25 the resistance.
Blog de la Communauté FX
EURo sold after briefly trading above 1.10
Emmanuel Macron is the next French president. His winning by a wider than expected margin and also Merkel's success at state election in Germany led to a small gap higher at the open. Higher prices were not sustained and sell-the-fact trade ensued.
Pulling back about 70 pips from the overnight high, EUR/USD is now firmly back below 1.10. 1.095 is the immediate support, followed by 1.09 and stronger one between 1.083 and 1.085. 1.10 should continue to act as a resistance until convincingly broken…
Pulling back about 70 pips from the overnight high, EUR/USD is now firmly back below 1.10. 1.095 is the immediate support, followed by 1.09 and stronger one between 1.083 and 1.085. 1.10 should continue to act as a resistance until convincingly broken…