EUR/USD holds higher ground below 1.0600 amid softer US Dollar
Updated
Hello dear friends,
Currently, the EUR/USD is holding at a higher level but still below the 1.0600 mark in Asian trading on Wednesday. The flow of risk is dominating and weighing on the US Dollar, especially in light of optimistic data from China. The speeches by Lagarde and EU/US data are being closely watched.
On the 1-hour chart, the price is well supported with technical indicators showing an upward trend. The current resistance level is around 1.0600, and breaking through that level will attract attention to 1.0630. Closing above that level will pave the way for further profits.
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Currently, the EUR/USD is holding at a higher level but still below the 1.0600 mark in Asian trading on Wednesday. The flow of risk is dominating and weighing on the US Dollar, especially in light of optimistic data from China. The speeches by Lagarde and EU/US data are being closely watched.
On the 1-hour chart, the price is well supported with technical indicators showing an upward trend. The current resistance level is around 1.0600, and breaking through that level will attract attention to 1.0630. Closing above that level will pave the way for further profits.
If you find this article interesting and useful, please leave a like and follow to receive the latest updates from Karina!
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Note
Early Wednesday, US stock index futures trade modestly lower, while the Euro Stoxx 50 Index stays flat.Note
The EU is moving as a technical indicator, the price has now reached the lower limit of the price increase
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