EURUSD extends gains above 1.0850
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Currently, EURUSD is taking advantage of the upside opportunity from the strong support at 1.0852. It can be seen that the pair is cooling down and gradually opening up more upside opportunities.
It is clear that EUR/USD is on a tear, falling to a multi-week low as the Euro continues to weaken ahead of the upcoming European Central Bank interest rate meeting on Thursday. However, the widely expected ECB rate cut of a quarter of a percentage point, or 25 bps, has eased some of the pressure on the pair.
The price is currently trading around the 1.0862-1.0860 range and remains dependent on the price momentum of the US Dollar (USD).
Resistance: 1.0876, 1.0905
Support: 1.0852, 1.0858
Currently, EURUSD is taking advantage of the upside opportunity from the strong support at 1.0852. It can be seen that the pair is cooling down and gradually opening up more upside opportunities.
It is clear that EUR/USD is on a tear, falling to a multi-week low as the Euro continues to weaken ahead of the upcoming European Central Bank interest rate meeting on Thursday. However, the widely expected ECB rate cut of a quarter of a percentage point, or 25 bps, has eased some of the pressure on the pair.
The price is currently trading around the 1.0862-1.0860 range and remains dependent on the price momentum of the US Dollar (USD).
Resistance: 1.0876, 1.0905
Support: 1.0852, 1.0858
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