EUR/USD: ECB may be the only hawk in town, upside risks ahead – OCBC

EUR/USD extends its gains on Thursday. Economists at OCBC Bank expect the pair to continue its race higher.

Is the ECB the only hawk in town?

“EUR continued to trade higher amid softer USD, dovish Fed hike while hawkish comments from ECB officials suggest that ECB may be the only hawk in town.”

“Daily momentum is bullish bias while RSI rose. Upside risks ahead.”

Resistance at 1.0940, 1.1030 (2023 high).” 

“Support at 1.08, 1.0730 (50- DMA) and 1.0680 (21-DMA, 23.6% fibo retracement of Sep low to Feb high).”