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Fear of inflation keeps the USD under pressure – EUR/USD Market Outlook – 10/02/2021


The euro bulls keep holding on to gains as the pair breaks back above 1.21 amid the upbeat mood surrounding the US fiscal stimulus. The global risk sentiment remained well supported by the progress in coronavirus vaccinations and US fiscal stimulus, fueling hopes for a strong global economic recovery. Today, the attention shifts to the US inflation data and Fed’s speech. If inflation remains low and Powell remains supportive, then the single currency might push higher towards 1.2170 and possibly 1.2215.

Support: 1.2050 / 1.1950
Resistance: 1.2170 / 1.2215

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/fear-of-inflation-keeps-the-usd-under-pressure-eur-usd-market-outlook-10-02-2021
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