$EURUSD Analysis: Traders seem reluctant amid Ukraine crisis, ahead of Powell’s speech by hareshmenghani forex trading
The Fed’s hawkish outlook was seen as another factor that underpinned the greenback.The EUR/USD pair
In the latest development, Ukraine's government defiantly rejected Russian calls to surrender the port city of Mariupol in exchange for humanitarian corridors. This comes after Russian forces advanced into the besieged port of Mariupol following one of the deadliest rockets strikes on Saturday. The market reaction, however, has been limited, for now, amid hopes for an eventual Russia-Ukraine peace deal.
On the flip side, the 1.1035 region has now emerged as immediate support, below which the pair could slide back below the key 1.1000 psychological mark and test the 23.6% Fibo. level, around the 1.0970 area. Some follow-through selling would expose the 1.0900 round figure before the pair eventually drops to the 1.0860 support en-route the YTD low, around the 1.0800 mark touched earlier this month.
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