EURUSD 1.1032: Resistance at 1.1300, Pressure from ECB & FED
EURUSD is currently fluctuating around the support level of 1.10320, where it has bounced several times. If this level holds, the price could rise towards the resistance level of 1.1300.
The RSI is at 39.81, indicating strong selling pressure, but potential buying interest may emerge at this support. The short-term downtrend remains intact as the price is below both the EMA 34 and EMA 89.
In terms of news, the ECB is expected to adjust its monetary policy this week to tackle high inflation in the Eurozone. Meanwhile, the USD is strengthening due to expectations that the FED will continue its tight monetary stance. These factors from the ECB and FED will significantly impact EURUSD’s next moves.
The RSI is at 39.81, indicating strong selling pressure, but potential buying interest may emerge at this support. The short-term downtrend remains intact as the price is below both the EMA 34 and EMA 89.
In terms of news, the ECB is expected to adjust its monetary policy this week to tackle high inflation in the Eurozone. Meanwhile, the USD is strengthening due to expectations that the FED will continue its tight monetary stance. These factors from the ECB and FED will significantly impact EURUSD’s next moves.
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