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EURUSD News

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Last Updated Date: 8 February 2022 @ 7:40 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar was up on Tuesday morning in Asia. A strong Euro remained just below strong resistance levels as U.S. inflation data due later in the week, wary that it could trigger gains for the U.S. currency.

The euro jumped 2.7% during the previous week after the European Central Bank (ECB) sprang a surprise hawkish shift in tone during the previous week. The single currency has held gains but was unable to beat resistance around the $1.1483 mark. European bond yields were on an upward trend and the euro last bought $1.1441.

The EURUSD market is signaling a short term peaking turnover and warns for selloffs back under 1.1401, possibly testing the last 1.1391. Trade is poised to extend selloffs the next few days. Any corrections trapped within Friday’s range will stay aligned for selloffs. \

Resistance 2       1.1480
Resistance 1       1.1460
 
Support 1            1.1421
Support 2            1.1401

 
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