USDJPY
EURUSD
EURUSD
EURUSD tests key resistance after reclaiming the 100-hour moving average post ECB
Key Takeaways (30s Read)
EURUSD retraced above the 100-hour moving average following the ECB meeting and is testing key resistance at 1.1762.
The ECB kept rates unchanged and maintained a data-dependent, meeting-by-meeting approach. Following the decision, EURUSD reclaimed the 100-hour moving average and is currently testing key resistance at 1.1762, a level closely watched by sellers. The rally has validated this level as a significant resistance zone. The near-term bias leans toward buyers as long as the price holds above the 100-hour MA, currently near 1.1742. If the pair manages to break above 1.1762, it may open the door for further upward momentum, while a drop back below the 100-hour MA would likely shift momentum back to sellers.
AI Analyst
AI Opinion
"In the current market context, the potential for ECB rate hikes or cuts is a critical factor. The upward revision of inflation and growth prospects indicates that the ECB has room to adjust its policy. In this backdrop, EURUSD carries a short-term bullish bias, but the emergence of the 1.1762 resistance is a critical point to note. A breakthrough above this level could signal further upside, whereas a drop below the 100-hour MA would increase risks and allow sellers to re-enter the market robustly. Traders should pay close attention to any clues from President Lagarde’s press conference."
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