Recent Euro data indicated that inflation growth in Germany has eased which was one of the contributors towards the upward move on the EURUSD.
Overnight the EURUSD traded up to the 1.0930 resistance area, but has since retraced below the 1.09 round number price level.
If the DXY bounces strongly from the 102 price level, with a sustained recovery in strength, look for the EURUSD to trade below the 1.0860 price level to signal a more sustained downside potential toward the 1.0760 support level.
However, following with the trend, if the EURUSD breaks above 1.0930, the next key resistance level is at 1.1035 (which was the last swing high, reached in February(
Overnight the EURUSD traded up to the 1.0930 resistance area, but has since retraced below the 1.09 round number price level.
If the DXY bounces strongly from the 102 price level, with a sustained recovery in strength, look for the EURUSD to trade below the 1.0860 price level to signal a more sustained downside potential toward the 1.0760 support level.
However, following with the trend, if the EURUSD breaks above 1.0930, the next key resistance level is at 1.1035 (which was the last swing high, reached in February(
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