EURUSD Potential Forecast | 15th May 2023

15 мая 2023 г.

Fundamental Backdrop

• ECB hiked rates by 25bps most recently.
  
• Fed continues to see heightened inflation and maintains its uncompromising hawkish stance.
  
• Empire State Manufacturing Index release later on with market pricing in a negative print.
  

Technical Confluences

• Daily support level at 1.0755 where price can potentially tap into.
  
• Price has broken past the daily resistance at 1.0961.
  

Idea

• With the DXY expected the strengthen in the short term, EURUSD can potentially continue bearish to the support at 1.0755
  

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