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EUR/USD edges lower below 1.1800 on Iran ceasefire uncertainty
EUR/USD rebounds within Friday's range as Iran ceasefire deadline looms
EUR/USD: Surveys and ECB stance cap upside – ING
The US dollar opened the week with a 0.2% gap upwards, driven by increased demand for safe-haven assets. EURUSD has opened with a downward gap for the second five-day period in a row due to signs of an escalating conflict in the Middle East.
Well, that didn't last long, did it? The much-talked-about “reopening” of the Strait of Hormuz barely made it through a day before Friday's tensions came straight back into play.
The Euro managed to break above the resistance level of the triangle formation to meet the first target at 1.8000. Intraday level supports start at 1.1720 and 1.1600 while as long as the market holds above it, the advance could continue.
EUR/USD moved higher on Monday after a correction, trending towards 1.1759. Earlier, the US dollar had partially regained ground following last week's decline, supported by increased demand for safe-haven assets amid an escalation of the US-Iran conflict.
EUR/USD: Limited upside as longer-term Dollar risks grow – Commerzbank
The Euro remained elevated above 1.1650 against the US Dollar. EUR/USD started a decent increase above the 1.1700 and 1.1750 resistance levels.
EUR/USD remains subdued near 1.1750 amid renewed US-Iran tensions
The EUR/USD reversed earlier gains to close lower on Friday after the earlier optimism about the Strait of Hormuz re-opening failed to keep the dollar and crude oil under sustained pressure. While crude oil fell about 9% on the day, it closed well off its earlier lows.