The
US Dollar finally is showing some vital signs since today and is trading firmer
against the majors. The deterioration caused by the Trump factor is currently
fading away as now the huge infrastructure investment plans have shaped into an
announcement. The greenback took the chance and rallied along with the main
indices and yields.
At this course of shifting landscape the EUR/USD pair turned to south. Having
bottomed at 1.0660, later the pair slightly recovered and currently is trading
at 1.0685.
In the 4-hour chart technical indicators are located at bearish area and are loosing strength. The
price has crossed the 20-day SMA, which is also holding slight downward
direction.
Resistance level now are found at 1.0710
(yesterday’s low), 1.0755 (January 23rd high) and 1.0770. To the downside, support levels might
be seen at 1.0660 (the daily low), 1.0610 and 1.565.
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