EURUSD: Maintaining short-term price upward channel
Hello dear traders!
EUR/USD has recovered momentum and now sees positive growth, surpassing 1.0650 today. This upturn was a result of the earlier reduction in flight to safety, pressuring the US dollar as the week ended, thereby boosting the pair.
However, EUR/USD's upward momentum may only last in the short term because it has not yet surpassed the two EMA lines and the resistance level at 1.073. As long as trading remains below this level, EUR/USD will still face significant challenges ahead.
EUR/USD has recovered momentum and now sees positive growth, surpassing 1.0650 today. This upturn was a result of the earlier reduction in flight to safety, pressuring the US dollar as the week ended, thereby boosting the pair.
However, EUR/USD's upward momentum may only last in the short term because it has not yet surpassed the two EMA lines and the resistance level at 1.073. As long as trading remains below this level, EUR/USD will still face significant challenges ahead.
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