Fri, Jan 27, 2023 @ 11:16 GMT
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EUR/USD Hits Resistance

The US dollar edges higher as dovish incentives for the Fed fade amid robust data. The pair came under pressure at 1.0600 which is a supply zone from last June’s sell-off. The directional bias remains up in the short-term and the bulls may see a pullback as an opportunity to stake in. 1.0440 near the previous top is the first support. Further down, the previous daily lows of 1.0300 and 1.0220 on the 30-day moving average might counteract a deeper correction. A close back above 1.0600 could lift the euro towards 1.0800.

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