OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD Price Analysis: Focus has now shifted to 1.1569

  • EUR/USD’s rally falters just ahead of the 1.1500 mark on Monday.
  • Bulls are now targeting the 2019 high at 1.1569.

EUR/USD has once again recorded new YTD highs, this time near the key barrier at 1.15 the figure during the Asian session.

The pair’s upside momentum picked up extra pace at the beginning of the week and advanced further north of the 200-week SMA near 1.1350.

Extreme “overbought” conditions could spark some correction lower in the near-term, with contention expected to emerge near 1.1240 (high December 31st 2019). The continuation of the buying pressure should target the 2019 high at 1.1569.

EUR/USD daily chart

 

NZD/USD erases majority of early losses, inches closer to 0.6350

The NZD/USD pair touched its lowest level since May of 2019 near 0.6000 at the opening as the coronavirus fear and the incredible fall in crude oil pr
Read more Previous

NY Fed increases daily repo operations to $150 billion from $100 billion

The Federal Reserve Bank of New York announced that it has increased the daily overnight repo operations' upper limit to $150 billion from $100 billio
Read more Next
Start livechat