Euro’s strong break above 1.0829 (Feb high) amid broad based risk-off tone in the markets suggests potential for a rise to 200-DMA level of 1.0884-1.09 levels.
US desks are likely to take cues from the sell-off in the USD in Asia and early Europe. Thus one may expect the spot to breach the 200-DMA during the day ahead.
A close above 1.0831 today would also mark a bullish break from the sideways channel.
US desks are likely to take cues from the sell-off in the USD in Asia and early Europe. Thus one may expect the spot to breach the 200-DMA during the day ahead.
A close above 1.0831 today would also mark a bullish break from the sideways channel.
