EURUSD H4 4 March 2024
EUR/USD, H4
The EUR/USD pair has discovered a support base around 1.0800 levels, initiating a rebound and
making strides to surpass its prior high. The surge is predominantly attributed to the dollar's
depreciation, prompted by lacklustre U.S. PMI readings that led investors to shed dollar positions. Attention is now firmly fixed on the European Central Bank's (ECB) upcoming interest rate decision scheduled for this Thursday, with market expectations leaning toward the maintenance of unchanged interest rates.
EUR/USD is supported at above 1.0800 and recorded a rebound, suggesting the buying power is
gaining. Suggests a neutral signal for the pair.
Resistance level: 1.0865, 1.0954
Support level: 1.0775, 1.0770
The EUR/USD pair has discovered a support base around 1.0800 levels, initiating a rebound and
making strides to surpass its prior high. The surge is predominantly attributed to the dollar's
depreciation, prompted by lacklustre U.S. PMI readings that led investors to shed dollar positions. Attention is now firmly fixed on the European Central Bank's (ECB) upcoming interest rate decision scheduled for this Thursday, with market expectations leaning toward the maintenance of unchanged interest rates.
EUR/USD is supported at above 1.0800 and recorded a rebound, suggesting the buying power is
gaining. Suggests a neutral signal for the pair.
Resistance level: 1.0865, 1.0954
Support level: 1.0775, 1.0770
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