Overall, EUR/USD is ranging across. Recently, EUR/USD trended upwards into the resistance zone of 1.17900.
Yesterday, during her speech, European Central Bank President Lagarde said that the European Union leaders should consider making the $750 billion euro Pandemic Emergency Purchase Programme (PEPP) a permanent tool. This is so that it can be used again when similar situations were to occur in the future. Also, Lagarde mentioned that the central bank still has enough firepower to do more if required amid the worsening of the pandemic in the euro area.
Currently, EUR/USD is bouncing off the resistance zone of 1.17900 and the next support zone is at 1.16500.
Look for short-term selling opportunities of EUR/USD.
Yesterday, during her speech, European Central Bank President Lagarde said that the European Union leaders should consider making the $750 billion euro Pandemic Emergency Purchase Programme (PEPP) a permanent tool. This is so that it can be used again when similar situations were to occur in the future. Also, Lagarde mentioned that the central bank still has enough firepower to do more if required amid the worsening of the pandemic in the euro area.
Currently, EUR/USD is bouncing off the resistance zone of 1.17900 and the next support zone is at 1.16500.
Look for short-term selling opportunities of EUR/USD.