EURUSD H4 25 March 2024
EUR/USD, H4 25 March 2024
The EUR/USD pair is currently facing significant downward pressure, trading close to its key
psychological support level at around 1.0800. This pressure comes amid signs of easing inflation
within the Eurozone, prompting market speculation about a potential rate cut from the European Central Bank (ECB) in 2024, despite its current hawkish monetary policy stance. Concurrently, persistent inflation in the U.S. is leading the Federal Reserve to adopt a more cautious approach towards rate cuts. This divergence in monetary policy between the two central banks is expected to exert additional downward pressure on the pair.
EUR/USD recorded a technical rebound at above 1.0800 after a significant dive. Suggesting that the pair remains trading with bearish momentum.
Resistance level: 1.0866, 1.0955📉
Support level: 1.0780, 1.0700📈
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