EUR/USD loses momentum after hitting 9-month highs near 1.0930

- Article Top Advertisement -
  • EUR/USD marks its highest since April 2022.
  • The euro driven by ECB expectations.
  • The dollar remains under pressure due to advances in the stock markets and due to the moderation of the Fed.

EUR/USD rallied to 1.0926 on Monday, the highest intraday level since April 21, 2022. After failing to firm above 1.0920 it lost momentum and fell back below 1.0900.

In the previous American session it is trading around 1.0890, in positive territory for the day, after having closed on Friday near 1.0850. The pair’s advance is supported by the general decline in the dollar, and a firmer euro.

- Article Inline Advertisement 1-

The official ofthe European Central Bank, Klaas Knot said on Monday that he expects the central bank to raise interest rates by 50 basis points in February and March. Another member of the Governing Board, Olli Rehn also spoke in favor of “significant” increases during these months.

Comments in favor of a continuation of significant increases by the ECB continue to support the eurowhich had previously lost steam after a report indicated that after February the central bank would soften its hikes.

- Advertisement -

For its part, the dollar continues downhill, given the expectation that February 1 will be one of the last rate hikes of the Federal Reserve. In addition, equity markets are advancing, reducing the demand for the dollar.

On Monday that will publish the Eurozone Consumer Confidence Index and the Chicago Fed Activity Index. Tuesday will be the turn of the preliminary estimate for January of the PMIs for the Eurozone and the US.

technical levels


Today’s last price 1.0899
Today Daily Change 0.0043
Today Daily Change % 0.40
Today daily open 1.0856
Daily SMA20 1.0711
Daily SMA50 1.0571
Daily SMA100 1.0232
Daily SMA200 1,031
Previous Daily High 1.0859
Previous Daily Low 1.0802
Previous Weekly High 1.0888
Previous Weekly Low 1.0766
Previous Monthly High 1.0736
Previous Monthly Low 1.0393
Daily Fibonacci 38.2% 1.0838
Daily Fibonacci 61.8% 1.0824
Daily Pivot Point S1 1.0819
Daily Pivot Point S2 1.0782
Daily Pivot Point S3 1.0762
Daily Pivot Point R1 1.0876
Daily Pivot Point R2 1.0896
Daily Pivot Point R3 1.0933

Source: Fx Street

- Article Bottom Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles