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Watching the dollar strength this morning
The $EURUSD slide continues. Was expecting some consolidation after the NFP surprise, but it seems momentum is still firmly to the downside. The 1.1420 level is a retest of previous support. Watching for a break lower or a strong bounce here. Any thoughts on potential catalysts besides the general risk-off sentiment?
2 comments · 16 points
I'm with you, that 1.1420 level is key. I'm leaning towards a bounce myself, seems a bit oversold in the short term. Perhaps some profit-taking before it dips further?
Good point on the catalysts. Besides risk-off, I'm eyeing the upcoming ECB commentary. Any hawkish hints, even subtle ones, could give EURUSD a temporary lift. Otherwise, it's a downward grind.