The euro (EUR) has risen 1.25% against the US dollar (USD) and has exceeded all the currencies of the G10, with the exception of the Swiss Franco (CHF), says Shaun Osborne, head of FX chief of FX of FX Scotiabank.
The impulse is extremely bullish
“The reevaluation of the global risks that favor the flows away from the USD continues to promote most of the price action, and the perspective of the relative policy of the central banks is offering additional support after the ECB meeting last week and its apparent change towards a more neutral rate perspective. In terms of data, we are attentive to the preliminary PMIs of this week scheduled for publication on Wednesday.”
“The EUR/USD profits are impressive, given its strong increase that takes it to levels not seen since the late 2021. The impulse is extremely bullish with a RSI just above 75. We see the short -term resistance potential around 1.16 and now we would expect support below 1.14 (previous resistance). “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
