EUR/USD weakens below 1.1700 as traders brace for US CPI data, US-Iran peace talks
EUR/USD nears 1.1700 as truce optimism and weak Dollar lift pair
EUR/USD gains as Dollar weakens, traders eye US CPI and US-Iran negotiations
A fragile ceasefire continues to reinforce the risk premium across global markets, particularly through higher-for-longer crude oil price concerns. However, caution remains warranted, as a tangible and lasting ceasefire solution is still not in sight.
EUR/USD rose to 1.1667 on Thursday. The US dollar partially recouped its losses from the previous session, as market sentiment remains cautious amid a fragile truce between the US and Iran.
The Euro to Dollar (EUR/USD) exchange rate proved resilient early this week amid elevated uncertainty and jumped to highs just above 1.17 on Wednesday following the announcement of a 2-week cease-fire between the US and Iran. CIBC expects a net EUR/USD advance to 1.19 by the end of this year as the dollar loses traction amid lower US.
EUR/USD: Sticky ECB pricing supports Euro – ING
The Euro broke above the resistance level of the triangle formation which could lead to a further advance toward resistances 1.1800 and 1.1920-60. Intraday level support starts from 1.1600 while as long as the market holds above it, the advance could continue.
Intraday bias in EUR/USD stays mildly on the upside at this point. Fall from 1.2081 could have completed as a correction at 1.1408.
EUR/USD hesitates at 1.1660 with Iran's ceasefire on tenterhooks
EUR/USD Price Forecast: Bulls await break above 200-SMA/38.2% Fibo. confluence near 1.1670
EUR/USD softens to near 1.1650 as Middle East tensions lift US Dollar