Oct 12, 2022
VOT Research Desk
Market Insights & Analysis
Current level – 0.9692
The currency pair continues to move in a constrained range between 0.9663 and 0.9730 following the unsuccessful bullish attempt. There is a good chance that the buyers will make another attempt, but only a successful breach of the indicated zone at 0.9730, followed by a violation of the following objective at 0.9813, might trigger a rally and bring the pair to the upper target at 0.9926.
If the bears are successful, a breach of the level at 0.9663 could easily lead to a further decline in the value of the euro relative to the dollar and a move towards the support areas at 0.9535 and 0.9570. Investors will pay close attention to today’s speeches by ECB President Christine Lagarde at 13:30 GMT and the anticipated FOMC Meeting Minutes at 18:00 GMT
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