EURUSD- Liquidity zone 1.1000 is attractive to the market
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Overall, EURUSD has experienced significant volatility today, with prices surpassing 1.0930. It is currently trading at a high of 1.0936, the highest level of the day, marking a 0.1% increase. So, what reasons and factors are driving this currency pair?
In terms of notable factors impacting today: investors are preparing for the US Consumer Price Index (CPI) data on Tuesday. Germany's final CPI report at the beginning of Tuesday is expected to be in line with preliminary figures.
Regarding the new prospects for EURUSD: On the 1-hour chart, EUR/USD is currently receiving strong support around the breakout zone of 1.0915. A break below this level would lead to a significant price decline, while maintaining it would result in an increase. Prices are expected to continue recovering after a correction phase and touch the upper boundary of the ascending channel and the EMA 34,89.
Overall, EURUSD has experienced significant volatility today, with prices surpassing 1.0930. It is currently trading at a high of 1.0936, the highest level of the day, marking a 0.1% increase. So, what reasons and factors are driving this currency pair?
In terms of notable factors impacting today: investors are preparing for the US Consumer Price Index (CPI) data on Tuesday. Germany's final CPI report at the beginning of Tuesday is expected to be in line with preliminary figures.
Regarding the new prospects for EURUSD: On the 1-hour chart, EUR/USD is currently receiving strong support around the breakout zone of 1.0915. A break below this level would lead to a significant price decline, while maintaining it would result in an increase. Prices are expected to continue recovering after a correction phase and touch the upper boundary of the ascending channel and the EMA 34,89.
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Comment:
The common currency has held up well since the start of the week despite the Dollar recovering some ground in G10, but we still see a return below 1.0900 as more likely than a rally to 1.1000+.
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