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EURUSD News

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Last Updated Date: 25 November 2021 @ 6:42 AM (UTC)
*Please note that all the dates are in GMT time zone

The U.S. dollar traded near its highest in over a year to the euro and close to a five-year peak against the yen as a hawkish tilt by Federal Reserve policymakers, buoyed by solid U.S. data, contrasted with more dovish monetary outlooks in Europe and Japan.

The dollar index, which measures the greenback against six major peers, eased 0.1% to 96.733, but remained within touching distance of Wednesday's high at 96.938, the strongest level since July 2020. The index has climbed 2.77% this month as traders bet that heated inflation would force earlier interest rate hikes than Fed officials had signalled. The market is fully priced for a first quarter point hike by June, with strong odds it could be delivered as soon as May. (Reuters).

Overall the EURUSD is bearish. Technically, RSI & the Stochastics are showing an oversold status still for the last 7 days; market must start a near term turn for recovery action, likely working retracements to test 1.1240 - 1.1290 resistance. A close over 1.1305 marks a short term turnaround and targets rallies back over 1.1374 - 1.1385. After that movement the Euro shall go down again showing new lows towards the 1.0700 (medium term). 

Resistance 2      1.1240
Resistance 1      1.1217

 
Support 1           1.1171
Support 2           1.1150


 



 

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