EUR/USD picks up from lows as US Dollar's rebound loses momentum

💡 DMK Insight

The Euro’s slight uptick against the Dollar could signal a shift in market sentiment. Trading at 1.1880, the Euro’s rise from 1.1833 suggests buyers are stepping in, possibly influenced by recent economic data or geopolitical factors. Traders should keep an eye on the 1.1900 resistance level; a break above could trigger further bullish momentum. Conversely, if the Euro fails to hold above 1.1850, we might see a quick pullback, especially with the USD’s ongoing strength in other pairs. It’s worth noting that while the Euro is gaining, broader economic indicators like inflation rates and central bank policies are still in play. If the ECB signals a more hawkish stance, that could bolster the Euro further. Watch for any news from the Eurozone that might affect sentiment, as well as the upcoming US economic reports that could impact the Dollar’s strength.