EUR/USD rises to 1.0600 as US Dollar recovery stalls
Hello dear friends!
Currently, EUR/USD is challenging the 1.0600 level after finding new demand in the early Asian trading session on Wednesday. The recovery of this currency pair is reinforced by the pause in the overnight recovery of the US dollar. The next focus for Euro traders is the German IFO survey.
On the technical analysis chart, after EU returned to the EMA activity zone and tested the price trendline, there are signs of a potential price increase. If the Euro rises above 1.0610, it will alleviate downward pressure and the upward momentum may continue if it consolidates above 1.0640, and even higher at 1.070.
What about you? Do you think the Euro will rise or fall in the near future?
Currently, EUR/USD is challenging the 1.0600 level after finding new demand in the early Asian trading session on Wednesday. The recovery of this currency pair is reinforced by the pause in the overnight recovery of the US dollar. The next focus for Euro traders is the German IFO survey.
On the technical analysis chart, after EU returned to the EMA activity zone and tested the price trendline, there are signs of a potential price increase. If the Euro rises above 1.0610, it will alleviate downward pressure and the upward momentum may continue if it consolidates above 1.0640, and even higher at 1.070.
What about you? Do you think the Euro will rise or fall in the near future?
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