ECB Kazaks says:
- There is no reason to pause or stop hikes after March
- Rates must hit significantly restrictive levels
- Markets should listen to Lagarde
Recall, the market sold the EURUSD off last Thursday while ECBs Lagarde was telegraphing a 50 basis point hike at the March meeting (the ECB raised by 50 basis points).
The EURUSD moved from 1.10308 to a low yesterday of 1.0662584 bouncing modestly. Looking at the hourly chart, the price remains below the 50% midpoint of the 2023 trading range at 1.07558. The price low today tested a swing area down to 1.07115 and found support buyers. The current price trades at 1.0730.
EURUSD trades within technical levels.
