Outlook for EUR/USD Price Appreciation
EUR/USD is rebounding towards the 1.0650 level at the beginning of the European session on Wednesday. The US Dollar (USD) has entered a consolidation phase, allowing the Euro to heal its wounds. However, it is facing constraints due to the divergence in policies between the Federal Reserve (Fed) and the European Central Bank (ECB). Investors are particularly attentive to the speeches and decisions of the ECB and Fed, hoping they will shape the market direction in the near future.
Based on technical analysis, there are signs indicating that prices are undergoing a corrective uptrend. It is expected that the price will surpass the resistance level at 1.0650, then advance towards the Simple Moving Average SMA 100. This could lead to a strong upward momentum for the Euro against the US Dollar (USD).
Based on technical analysis, there are signs indicating that prices are undergoing a corrective uptrend. It is expected that the price will surpass the resistance level at 1.0650, then advance towards the Simple Moving Average SMA 100. This could lead to a strong upward momentum for the Euro against the US Dollar (USD).
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