Well-known dove, Yannis Stournaras called for not one, but two rate cuts before the summer break, contrasting with the overall ECB stance to follow the Fed
Price action remains above the 50 and 200-day simple moving averages – which is typically bullish. However, price momentum appears to be stalling and the 50 SMA reveals as much, dropping lower towards the 200 SMA. Should the bullish move continue, a break above 1.0960 will be required with subsequent momentum, eying 1.1017.
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