EUR/USD resumesits short-term downtrend, perhaps due to diverging commentary from central bankers. ECB officials are coming across as more dovish than their Federal Reserve peers. EUR/USD edges loweron Wednesday on the back of diverging commentary from rate-setters at the US Federal Reserve and European Central Bank . Commentary from ECB officials is now indicating a high likelihood it will cut interest rates in June, whilst a delay from the Fed is still possible.
0860s and plunged back down, falling in line with the dominant short-term downtrend. Euro versus US Dollar: 4-hour chart A decisive break below the B-wave lows at roughly 1.0795 would signal a continuation of the downtrend to the next target at 1.0750 – then the February lows at roughly 1.0700. A decisive break is one characterized by a long red bearish candle that breaks cleanly through the level and closes near its low, or three down candles in a row that breach the level.
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