ECBs Rehn is speaking and says:
- Appropriate to raise rates beyond March.
- Terminal rate could be reached this summer.
- Rates need to be restrictive for some time
- Hikes should not stop while core inflation is rising and is so high
- Recession likely avoided. 2023 growth could be around 1%
The EURUSD has peeked above the 100 hour moving average 1.06897. The downward sloping trendline is being tested at 1.0694. Above that remains the key 200 hour moving average which held resistance both on Thursday and earlier today.
EURUSD tests 100 hour moving average & trendline resistance
