Euro flirts with 1.0700, extending weekly bounce
Hello everyone !
Today the Euro (EUR) has successfully regained its stability against the US Dollar (USD), prompting EUR/USD to quickly move away from the initial decline towards the area near 1.0670 and instead concentrate on overcoming the obstacle at 1.0700 on Tuesday.
The USD is still facing increased selling pressure and may soon test its crucial support level at 105.00 as indicated by the USD Index (DXY). This situation arises due to rising US yields and caution ahead of the Federal Reserve (Fed) meeting scheduled for Wednesday.
Today the Euro (EUR) has successfully regained its stability against the US Dollar (USD), prompting EUR/USD to quickly move away from the initial decline towards the area near 1.0670 and instead concentrate on overcoming the obstacle at 1.0700 on Tuesday.
The USD is still facing increased selling pressure and may soon test its crucial support level at 105.00 as indicated by the USD Index (DXY). This situation arises due to rising US yields and caution ahead of the Federal Reserve (Fed) meeting scheduled for Wednesday.
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good luck everyone <3
