Open Demo Account
Home / Market Update / Forex Market / Euro Continues Rally on USD Woes

Euro Continues Rally on USD Woes

M. Ali 27 July, 2020 9:45 pm Forex Market, Market Update

The Euro rose against the US Dollar on Monday, nearing a two-year high, with the US continuing to register an increasing number of COVID-19 cases.

The market anticipates a second stimulus package that could be soon approved by Congress, as well as the upcoming Federal Reserve meeting this week.

Meanwhile, the EUR was supported by a decline in France’s unemployment and the German business climate index beating estimates.

The EUR/USD is trading at 1.1753, up by 0.83% for the day, moving during the day between 1.16410 and ‪1.17815.

Support Levels: 1.1605 – 1.1554 – 1.1528

Resistance Levels: 1.1682 – 1.1708 – 1.1759

Tags

Check Also

Coinbase plans to list more meme coins amid regulatory optimism

According to Tom Duff Gordon, vice president of Coinbase, the exchange will probably be able …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends