EUR: Bullish
"We believe that EURUSD could head higher before we see pushback from
the ECB. Indeed, we don’t expect anything from next week’s meeting. Our
base case is for no further easing, but in the tail risk that the
central bank does decide to do more, this would be likely to come in
December alongside the ECB’s new forecasts. With further action from the
ECB unlikely in the near term, and US rates falling, EUR is becoming
less attractive as a short term funder, offering it support."
From the technical point of view - the price is on primary bearish market condition for the ranging between the following key support/resistance levels:
- 1.1956 resistance level, and
- 1.0607 support level.
