EUR/USD: 21 DMA holds key – OCBC
Source Fxstreet
Euro (EUR) traded under pressure (sub1.03 levels), OCBC's FX analysts Frances Cheung and Christopher Wong note.
Risks modestly skewed to the upside
"ECB’s Schnabel said ECB has room to lower borrowing costs but also stressed that after the steep rate cuts over the last few months, ECB is getting closer to the point where policymakers have to take a closer look at whether and to what extent they can still reduce rates."
"Daily momentum turned mild bullish while RSI rose. Risks modestly skewed to the upside. EUR bulls to regain some momentum towards 1.0440 (50 DMA). Support at 1.0240, 1.02 (recent low)."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
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