EUR/USD Resistance at 1.1450 Caps Upside Amid Softening Euro – Scotiabank
Scotiabank reports that EUR/USD is softer, with resistance at 1.1450 capping upside. Regional inflation data suggests downside risks for national CPI, while ECB President Lagarde signals that more tightening could come.
Scotiabank's FX strategists note that EUR/USD is trading softer as regional inflation data points to downside risks for national consumer price indices. The euro faces headwinds despite ECB President Lagarde's hawkish signals that additional tightening may be on the horizon.
Swaps are pricing in modest further tightening by the ECB, but the near-term technical picture shows resistance firmly at 1.1450, limiting any upside movement in the pair. The market remains cautious as inflation dynamics diverge across the eurozone.
Source: FXStreet Forex News