Thu, Mar 30, 2023 @ 09:06 GMT
HomeContributorsTechnical AnalysisEUR/USD Continues to Recover

EUR/USD Continues to Recover

The euro inches higher supported by the ECB’s shift to normalising its monetary policy. The psychological effect of parity had triggered a ‘buy-the-dips’ behaviour. A surge above 1.0200 prompted the short side to cover their positions and turned short-term sentiment around. The bulls further consolidated their gains above 1.0130, paving the way for a sustained rebound. A close above 1.0270 would attract momentum buying and send the single currency to the previous daily support-turned-resistance at (1.0440).

At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading