The EUR/USD pair is back in the red zone
and meanders near daily lows, as the US dollar staged a solid comeback from
Trump’s speech induced declines, lifting the USD index back near five-day highs
of 101.57.
In terms of technicals, Omkar Godbole, Analysts at FXStreet
notes, “A break above 1.06 (zero figure) would expose 1.0642 (38.2% of
1.0341-1.0829) and 1.0677 (Feb 17 high). On the downside, support is seen at
1.0577 (5-DMA) and 1.0565 (previous day’s low), under which a major support is
seen at 1.05 (zero figure). “
The EUR/USD pair is back in the red zone and meanders near daily lows, as the US dollar staged a solid comeback from Trump’s speech induced declines, lifting the USD index back near five-day highs of 101.57.
In terms of technicals, Omkar Godbole, Analysts at FXStreet notes, “A break above 1.06 (zero figure) would expose 1.0642 (38.2% of 1.0341-1.0829) and 1.0677 (Feb 17 high). On the downside, support is seen at 1.0577 (5-DMA) and 1.0565 (previous day’s low), under which a major support is seen at 1.05 (zero figure). “
Current exchange rate of EUR/USD pair is 1.0539.
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Sell as the pair is going down.
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