After gaining more than 1% on Monday, EUR/USD extended its rally early Monday and reached its highest level since March near 1.0970.
EUR/USD trades at its highest level since March above 1.0900 on Monday. The US Dollar stays under heavy selling pressure at the start of the week. The risk-averse market atmosphere could limit the pair's upside. The pair's near-term technical outlook points to overbought conditions. Euro PRICE Last 7 days The table below shows the percentage change of Euro against listed major currencies last 7 days. Euro was the strongest against the Australian Dollar.
If EUR/USD drops below that level and starts using it as resistance, it could extend its downward correction toward 1.0900 and 1.0870 . Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
Currencies Majors Technical Analysis
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: Euro could gather recovery momentum on a soft US NFP readingEUR/USD failed to build on Wednesday recovery gains and dropped to a fresh multi-week low of 1.0777 on Thursday.
Read more »
EUR/USD Forecast: Euro could gather recovery momentum on a soft US NFP readingEUR/USD failed to build on Wednesday recovery gains and dropped to a fresh multi-week low of 1.0777 on Thursday.
Read more »
EUR/USD Forecast: Euro stays dangerously close to key support area ahead of FedEUR/USD struggles to gain traction early Wednesday and continues to fluctuate in a narrow channel slightly above 1.0800 after posting small losses on Tuesday.
Read more »
EUR/USD Forecast: Euro holds above strong support areaEUR/USD moves sideways near 1.0850 in the European morning on Monday after closing the previous week in negative territory.
Read more »
EUR/USD Forecast: Euro struggles to attract buyers despite improving risk moodAfter recovering to 1.0870 early Thursday, EUR/USD lost its momentum and closed the day virtually unchanged slightly below 1.0850 as the US Dollar (USD) benefited from upbeat data releases.
Read more »
EUR/USD Forecast: Euro looks vulnerable as markets turn risk-averseEUR/USD struggles to gain traction and trades below 1.0850 in the early European session on Thursday after closing the second consecutive day in negative territory on Wednesday.
Read more »