Wed, Feb 01, 2023 @ 19:20 GMT
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EUR/USD Consolidates Gains

The euro keeps the high ground thanks to the ECB’s hawkish approach. The euro has retained its upward trajectory, and the RSI returning to the neutral area on the daily chart has taken some heat off the rally. The current consolidation may allow the bulls to accumulate above the 20-day moving average. The recent high of 1.0700 is the first resistance and its breach would lift the pair to last May’s high of 1.0780 which is a major obstacle in the medium-term. 1.0570 is an important support to keep intraday buyers interested.

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