USDJPY
EURUSD
EURUSD
EUR/USD Price Forecast: Bearish momentum fades, 1.1700 caps recovery
Key Takeaways (30s Read)
EUR/USD faces resistance at 1.1700 as it rebounds from one-month lows.
EUR/USD is showing some recovery at the start of the week, trading around 1.1676, reflecting a gain of approximately 0.36%. This rise is attributed to renewed weakness in the US Dollar, snapping a seven-day losing streak for the Euro against the Dollar. However, the pair is facing significant resistance at the 1.1700 level, which is capping further upside potential. Market participants are keenly awaiting upcoming economic indicators and policy changes that could influence the price trajectory further, particularly U.S. economic data releases and interest rate decisions.
AI Analyst
AI Opinion
"Currently, the EUR/USD pair is showing a temporary rebound influenced by the weakness of the Dollar. However, the resistance at the 1.1700 level poses limitations for further upside momentum. Without breaking this level, there might be renewed downward pressure. The market is highly sensitive to the upcoming economic indicators, particularly concerning the U.S. policy shifts, which will significantly impact the movement of EUR/USD. In this context, traders should adopt a cautious approach."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.