The EUR/USD pair continued its recovery trend after the relatively weak US housing data and hawkish statement by Christine Lagarde.
Enter your emailThe pair will likely keep rising as bulls target the key resistance level at 1.0867, which is along the 50% Fibonacci retracement level.Timeline: 1-2 days.pair continued its recovery trend after the relatively weak US housing data and hawkish statement by Christine Lagarde.
The Fed has already made its case that it will continue tightening its monetary policy in a bid to fight inflation. In a statement on Tuesday, the Fed chair reiterated that the bank will deliver a 0.50% rate hike in the upcoming meeting. The next major catalyst for the EUR/USD will be the latest minutes by the Federal Reserve. These minutes will show the depth of the deliberations that the Fed made in its most recent meeting. Still, with what we know, the impact of these minutes will be a bit muted.
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