After falling to around 1.0650 in the Asian session, buyers have started to show interest in the EUR/USD pair.
The significant currency pair has rebounded as the US Dollar Index’s (DXY) comeback movement has slowed.
In general, the major is showing a sideways auction profile as investors wait for new momentum from the publication of the Eurozone Harmonized Index of Consumer Prices (HICP) data.
After failing to continue its rebound over the immediate barrier of 103.50, the US Dollar Index has encountered selling pressure.
The important support level at 103.00 will likely be tested again as the USD Index continues to fall dramatically.
On the American front, attention will remain on the Federal Open Market Committee (FOMC) report.
The policy outlook for will be monitored by investors for CY2023 and the current economic outlook to help in decision-making.
|
Daily SMA20 |
1.0604 |
|
Daily SMA50 |
1.0363 |
|
Daily SMA100 |
1.0131 |
|
Daily SMA200 |
1.0324 |
