EURUSD ANALYSIS ON H4 CHART.
Overall, EUR/USD is trending downwards. Recently, EUR/USD traded into the support zone of 1.10000.
The European Central Bank (ECB) held its monetary policy unchanged during its meeting yesterday. The central bank sent out a hawkish tone when it announced that it will speed up its QE tapering if the eurozone economic data warrants it to do so, potentially ending bond-buying during the third quarter of 2022.
Currently, EUR/USD is testing the support zone of 1.10000 and the next resistance zone is at 1.12000.
Look for short-term buying opportunities of EUR/USD if it bounces off the support zone of 1.10000.
The European Central Bank (ECB) held its monetary policy unchanged during its meeting yesterday. The central bank sent out a hawkish tone when it announced that it will speed up its QE tapering if the eurozone economic data warrants it to do so, potentially ending bond-buying during the third quarter of 2022.
Currently, EUR/USD is testing the support zone of 1.10000 and the next resistance zone is at 1.12000.
Look for short-term buying opportunities of EUR/USD if it bounces off the support zone of 1.10000.
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