EURUSD: On the rebound
Updated
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EUR/USD has successfully surpassed the important barrier of 1.0900, driven by significant downward pressure on the US Dollar following the Federal Reserve's decision to maintain interest rates and indications of potential rate cuts three times this year.
The 4-hour chart suggests that the current downward momentum may have exhausted. This indicates that the next upward barriers could be at 1.0921, followed by 1.0963 and 1.0998.
The initial support level is at 1.0834, with further supports at 1.0830 and 1.0761.
EUR/USD has successfully surpassed the important barrier of 1.0900, driven by significant downward pressure on the US Dollar following the Federal Reserve's decision to maintain interest rates and indications of potential rate cuts three times this year.
The 4-hour chart suggests that the current downward momentum may have exhausted. This indicates that the next upward barriers could be at 1.0921, followed by 1.0963 and 1.0998.
The initial support level is at 1.0834, with further supports at 1.0830 and 1.0761.
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