The EURUSD market is bearish with pressing selloffs signaling a breakout under a 1.0947 weekly low. Sustained action under 1.0947 could open up a selling wave to 1.0894 and 1.0805. Corrective rebounds will likely struggle with the accelerating momentum of declines from the past several days. Only a close over 1.1119 (SAR) alerts for a sustained correction phase.
Last Updated Date: 22 March 2022 @ 7:26 AM (UTC)
*Please note that all the dates are in GMT time zone
The dollar was up on Tuesday morning in Asia, while the yen fell through the 120 mark for the first time since 2016. Investors continued to digest a hawkish speech from U.S. Federal Reserve Chair Jerome Powell that raised bets on higher U.S. interest rates and widened the policy gap on a dovish Bank of Japan.
