Where will EUR/USD go after the ECB? A lot depends on the Fed decision.
Here is their view, courtesy of eFXdata:
TD Research discusses EUR/USD bias in light of today’s ECB policy decision and ahead of next week’s FOMC July policy meeting.
“Next week’s FOMC meeting may constrain spot’s ability to follow-through, however, as investors will rotate quickly to consider how the Fed may respond.
The key risk levels look well defined at this stage. A clear break below key support in the 1.1105/15 zone could see a further extension toward 1.1076 ahead of 1.1023,” TD adds.
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