EUR/USD leveled off on Friday after falling sharply on Thursday, with prices hovering slightly above support at 1.0875. If this floor holds in the coming days, buyers may slowly start reentering the market again, setting the stage for a move towards 1.0980. On further strength, all eyes will be on 1.1020.
On the flip side, if technical support caves in, sellers may feel emboldened to launch a bearish assault on 1.0850/1.0835, an area where three significant moving averages intersect. Below this band, attention will be directed towards 1.0790 and 1.0725 thereafter.
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
On the flip side, if technical support caves in, sellers may feel emboldened to launch a bearish assault on 1.0850/1.0835, an area where three significant moving averages intersect. Below this band, attention will be directed towards 1.0790 and 1.0725 thereafter.
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.