EUR/USD battles 1.0600 as US Dollar rebounds
Brian greets everyone!
Today, the EUR/USD is holding steady at 1.0600 after failing to sustain early gains during Asian trading on Wednesday. The currency pair is losing ground amidst the broad-based recovery of the US dollar, despite the Federal Reserve's mild expectations and optimistic sentiment. The focus is on the US core PPI inflation.
However, on the 4-hour chart, the upward trend is still well-maintained with a significant resistance level around 1.0663. Breaking through this resistance would push EUR/USD to new highs, with an expected target around 1.0733.
Today, the EUR/USD is holding steady at 1.0600 after failing to sustain early gains during Asian trading on Wednesday. The currency pair is losing ground amidst the broad-based recovery of the US dollar, despite the Federal Reserve's mild expectations and optimistic sentiment. The focus is on the US core PPI inflation.
However, on the 4-hour chart, the upward trend is still well-maintained with a significant resistance level around 1.0663. Breaking through this resistance would push EUR/USD to new highs, with an expected target around 1.0733.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.