EUR/USD Price Analysis: Upside seems limited, bearish pennant in the making EURUSD Fed Bonds Technical Analysis Currencies
A mildly softer tone around the USD is seen as a key factor lending support to the major.EUR/USD
The uncertainty over the Federal Reserve's rate-hike path keeps the US Dollar bulls on the defensive, which, in turn, is seen lending some support to the EUR/USD pair. That said, surprise rate hikes by the Reserve Bank of Australia and the Bank of Canada this week suggest that the fight against inflation is not over yet. This supports prospects for a further policy tightening by the Fed, which remains supportive of elevated US Treasury bond yields and favours the USD bulls.
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