- An Insurance Fed Rate Cut?
- EUR/USD rejected key level
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
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