EUR/USD Reaches Late November Highs: Central Bank Divergence

EUR/USD Substantial Surge:

🚀 Following a substantial surge, EUR/USD reached its highest level in late November.
📈 Spurred by the Euro's strength against a potentially faltering US Dollar.
Technical Indicators and Fed's Dovish Stance:

📉 While technical indicators hint at a possible correction.
🏦 The Fed's dovish stance contrasts with the ECB's hawkish tone, propelling the Euro upward.
ECB's Vigilant Approach:

🏦 The ECB, maintaining rates and projecting lower inflation, emphasized a vigilant approach.
🚫 Dismissing talks of rate cuts.
Divergence in Central Bank Strategies:

🔄 This contrast against the Fed's discussions on a policy pivot signals a potential divergence in central bank strategies.
Upcoming PMI Surveys and Resilient Euro:

👀 Despite upcoming PMI surveys that could sway markets, the Euro's upward trajectory against the Dollar seems resilient.
🤔 Hinting at a cautious outlook for betting against EUR/USD.
Friday's EUR/USD Movement:

📉 By Friday, the EUR/USD dropped to reach the middle band of the Bollinger Bands.
⬆️ Presently, the price hovers slightly above the middle band, indicating a potential ongoing movement.
Potential Touchpoint at Resistance Level:

🎯 The ongoing movement might touch the resistance level at 1.0945.
Relative Strength Index (RSI):

⚖️ Notably, the Relative Strength Index (RSI) holds at 55.
😐 Signaling a neutral stance for this currency pair.
Key Technical Levels:

🚀 Resistance levels: 1.0945, 1.1017.
📉 Support levels: 1.0895, 1.0830.