EUR/USD sees recovery to near 1.0900 as ECB to continue rate hikes beyond summer

• EUR/USD is eyeing to recapture the 1.0900 resistance as ECB might not pause policy tightening beyond summer.
• The Euro is delighted with bullish bets for CY2023 as the ECB will continue to raise interest rates further.
• According to the consensus, investors should brace for a contraction in the US GDP for the fourth quarter of CY2022.

The EUR/USD pair is aiming for a recovery extension to near the critical resistance of 1.0900 as the odds of hawkish European Central Bank (ECB) bets are soaring dramatically. The major currency pair is looking to extend its upside journey further as the expectations of the continuation of policy tightening by the ECB beyond summer have strengthened.

Earlier, ECB President Christine Lagarde and other policymakers were stating that the central bank will reach an interest rate peak by the end of summer at 3.25%.