EUR/USD, H4
The Euro remains in a holding pattern as investors await crucial monetary policy decisions from the European Central Bank later this week. Anticipated to maintain steady interest rates, the ECB faces the challenge of easing inflation. ECB Vice President Luis de Guindos emphasises the need for more data on Eurozone inflation, currently at 2.6%, before considering rate adjustments. Investors remain attentive to ECB decisions for potential trading signals.
EUR/USD is trading higher while currently testing the resistance level. Suggesting the pair might extend its gains after breakout.
Resistance level: 1.0865, 1.0954
Support level: 1.0765, 1.0710
The Euro remains in a holding pattern as investors await crucial monetary policy decisions from the European Central Bank later this week. Anticipated to maintain steady interest rates, the ECB faces the challenge of easing inflation. ECB Vice President Luis de Guindos emphasises the need for more data on Eurozone inflation, currently at 2.6%, before considering rate adjustments. Investors remain attentive to ECB decisions for potential trading signals.
EUR/USD is trading higher while currently testing the resistance level. Suggesting the pair might extend its gains after breakout.
Resistance level: 1.0865, 1.0954
Support level: 1.0765, 1.0710