BREAKING: EURUSD rebounds sharply after Lagarde comments

EURUSD pair dropped sharply following the release of latest PMI data from the US, however buyers quickly regained control supported by another slew of hawkish remarks from ECB President Lagaarde.

•  I intend to raise rates by 50 basis points in March.

• In 2023, there will be no eurozone countries in recession.

•  Headline inflation has begun to slow down.

• I don't see a wage-price spiral in the Eurozone and rapid nominal wage growth is part of catching up.

• The extent to which rates rise will be determined by data.

EURUSD pair again jumped above the major resistance zone between 1.0660 -1.0670. Nevertheless as long as the pair sits below 1.0700, the main sentiment remains bearish. Source: xStation5