EURUSD Resilienced Amid Weakening USD
In the context of the weakening US dollar (USD), the Euro has begun to recover and rise again. The decline of the US dollar has created favorable conditions for the Euro, leading many investors to shift their focus towards the Euro currency.
On the 4-hour chart, the Relative Strength Index (RSI) has increased to the 67 level, indicating the strength of the upward momentum and the potential for further price increases in the near future.
The Euro has also surpassed simple moving averages such as the SMA 20 and SMA 50, and is currently approaching the SMA 100. This suggests a short-term uptrend in prices. If the price continues to surpass the SMA 100, a stronger upward trend is expected, possibly reaching the next resistance levels on the chart.
On the 4-hour chart, the Relative Strength Index (RSI) has increased to the 67 level, indicating the strength of the upward momentum and the potential for further price increases in the near future.
The Euro has also surpassed simple moving averages such as the SMA 20 and SMA 50, and is currently approaching the SMA 100. This suggests a short-term uptrend in prices. If the price continues to surpass the SMA 100, a stronger upward trend is expected, possibly reaching the next resistance levels on the chart.
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