FxWirePro:EUR/USD slips as oil supply and conflict fears persist

• EUR/USD slipped lower  on Thursday   as surging energy prices stoked inflation worries, which could potentially force central banks to reassess the need for interest-rate hikes.

• Oil prices rose sharply as Iran stepped up attacks on oil and transport facilities across the Middle East, fueling concerns of a prolonged conflict and potential disruption to oil flows.

• ECB officials warned that surging oil prices threaten inflation and said they would act quickly if price pressures start to stick.

•Isabel Schnabel said the post-pandemic inflation surge has left lasting scars on businesses and consumers, warning that prices can rise quickly and remain elevated, while stressing policymakers will act swiftly if inflation risks becoming entrenched..

•   Immediate resistance is located at 1.1577( Daily high), any close above will push the pair towards 1.1624 (38.2%  fib)

• Strong support is seen at 1.1518(23.6%  fib) and break below could take the pair towards 1.1468 (Lower BB).

  Recommendation: Good to sell around 1.1550 with stop loss of 1.1640and target price of 1.1480