ECBs Vasle is speaking and says:
- Awaiting data and open to possibilities on rate path
- Cutting rates in June would be reasonable
- Seems to thousand 24 GDP growth to be better than expected.
- Really attentive to what's happening in the US.
With Fed Gov. Bowman talking more hawkish and Vasle (and other ECB officials gearing toward a June cut), the EURUSD remained near higher levels for the week. Nevertheless, resistance at 1.0875 – 1.0887 has attracted some sellers.
The current price trades at 1.08674. He would take a move above the swing area to disappoint sellers. On the downside the low price today stalled against the 61.8% retracement of the move down from the March high at 1.08354. A move below that level and the 100 day moving average of 1.08193 is needed to increase the bearish bias going forward.
