The EUR/USD it falls back below 1.0400 at the end of the week. Nordea’s economists they believe that the pair has limited upside potential.
Investors are in favor of a rise in EUR/USD
“We believe that the EUR/USD It will be in a limit range in the next few weeks.”
“Looking at the technicals, it looks like the EUR/USD rallies are limited as the cross has rallied close to the 200 Day SMA which is a solid resistance level. Also, the 14 Relative Strength Index days is close to 70, a level that suggests the dollar is oversold against the euro.”
“From a fundamental perspective, the two-year euro-dollar interest rate differentials favor a lower EUR/USD, while investors position themselves for a higher EUR/USD.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.