The EUR/USD is testing the upper limit of the price action. A lack of significant economic data is accompanied by consolidation.
EUR/USD Forecast
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The EUR/USD dips as the US dollar strengthens from the influence of two fronts. Geo political issues likely added risk aversion.
The EUR/USD is testing the bottom limit of the price action. An upside surprise of US economic data added to the optimism towards the US Dollar.
Despite a much worse than expected German ZEW Economic Sentiment, the euro currency holds for now. This may change soon as the US opens.
While the EUR/USD climbed during early week on optimism from economic data, ongoing apprehension stalled the momentum in the second half of the week.
The EUR/USD plunged to test the crucial region of 1.11. As the US cuts interest rate, the dollar gained instead leaving many traders clueless. Find out why.