EUR/USD to finally break key technical support level this week? ...Middle East

The dollar might be trading a bit more sluggishly today but the euro is underperforming even more. Traders have stepped up ECB rate cut bets slightly on the day and that is enough to put a drag on the single currency. EUR/USD is down 0.3% to 1.0818 and is now threatening a break under its 200-day moving average (blue line).The key technical support level is seen at 1.0841 currently. And it has acted as a floor for price action on the daily chart in recent weeks. The daily closes have come in above that as buyers are trying to stay in the game. But are we due for a downside break today or some time this week?It's going to be a crucial week for both the euro and dollar, in adding to the techni

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Last updated : 29 January 2024 clock 02:32 PM

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EUR/USD to finally break key technical support level this week? ...Middle East

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