EURUSD continues to maintain an increasing range
Conan, hello everyone.
Today, EUR/USD is maintaining its initial bullish bias below 1.0800, after closing the session with a steady gain above the intact bullish channel. The pair is supported by optimism over China's stimulus measures and a broad correction in the US dollar, which helped reverse the decline caused by the ECB's dovish decision.
On the other hand, any further upside is likely to face resistance around 1.0974, above which, it could trigger a short-term recovery and push EUR/USD towards the psychological level of 1.1020.
Today, EUR/USD is maintaining its initial bullish bias below 1.0800, after closing the session with a steady gain above the intact bullish channel. The pair is supported by optimism over China's stimulus measures and a broad correction in the US dollar, which helped reverse the decline caused by the ECB's dovish decision.
On the other hand, any further upside is likely to face resistance around 1.0974, above which, it could trigger a short-term recovery and push EUR/USD towards the psychological level of 1.1020.
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