EUR/USD: 2-way trades are likely – OCBC
Source Fxstreet
Euro (EUR) continued to trade subdued. Pair was last at 1.1645 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Recent range between 1.1580 and 1.1700 to hold
"Daily momentum and RSI indicators are not showing a clear bias for now. 2-way trades likely. Support here at 1.1630/40 levels (21, 50 DMAs) and 1.1570 levels. Resistance at 1.1730, 1.18 levels. We look for recent range in 1.1580 – 1.1700 to hold. EUR’s directional bias in the near term is largely dependent on USD and Powell’s comments."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin slid below the 116,000 mark on Monday, retreating sharply from its record highs achieved last week.
Australian Consumer Confidence Hits 3-Year High on RBA Rate CutsAustralian consumer sentiment soared to its highest level in over three years in August, buoyed by recent Reserve Bank of Australia (RBA) rate cuts and easing cost-of-living pressures, according to a Westpac-Melbourne Institute survey released Tuesday.
Australian consumer sentiment soared to its highest level in over three years in August, buoyed by recent Reserve Bank of Australia (RBA) rate cuts and easing cost-of-living pressures, according to a Westpac-Melbourne Institute survey released Tuesday.
Last week, the S&P 500 continued its upward momentum despite notable shifts in market leadership.
OpenAI Introduces Lowest-Cost ChatGPT Subscription in India with UPI Payment OptionOn Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
On Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
Bitcoin continued its downward trajectory on Wednesday, hitting a two-week low as investors trimmed their positions ahead of the Federal Reserve’s upcoming Jackson Hole symposium.
Related Instrument
