EURUSD: Bullish Signals but Facing Major Resistance
מעודכן
EURUSD is currently trading around 1.05692, showing a slight recovery from recent lows, with the EMA 34 providing dynamic support and the EMA 89 acting as a key resistance level.
Price action indicates short-term bullish signals, but the strong resistance at 1.06500 could pose a significant challenge. If this level is breached, EURUSD may extend its upward momentum towards higher targets around 1.07000.
Conversely, failure to hold above the EMA 34 could see selling pressure push the price back to test support at 1.05200 or lower.
News of the ceasefire in the Middle East is reducing safe-haven demand, supporting a stronger USD, which in turn is pressuring EURUSD.
Price action indicates short-term bullish signals, but the strong resistance at 1.06500 could pose a significant challenge. If this level is breached, EURUSD may extend its upward momentum towards higher targets around 1.07000.
Conversely, failure to hold above the EMA 34 could see selling pressure push the price back to test support at 1.05200 or lower.
News of the ceasefire in the Middle East is reducing safe-haven demand, supporting a stronger USD, which in turn is pressuring EURUSD.
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