ECBs Nagel is speaking and says:

  • Price pressure in euro zone could continue for some time.
  • Is not completely clear if inflation rate will reach 4% target next year and stay at that level.
  • Expect slight growth in the German economy in 2024

The EURUSD is trading to a new high and in the process moved up to test the falling 100 hour MA at 1.0652. There is also a swing area between 1.0655 and 1.0675. It will take a move above each to give the buyers more confidence (and disappoint the sellers).