Technical Analysis

The euro threatens to touch 1.10 for the first time since April

The euro is trading at a 10-month high as the US dollar sinks broadly following the FOMC decision. The market continues to feel better about global growth and a peak in interest rates.

If the euro can get above 1.10, the next spot of resistance on my chart is 1.1224, which is the 61.8% retracement of the decline since May. That also roughly coincides with the Dec 2021 lows.

EURUSD weekly chart

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button