The Euro vs US Dollar Technical Analysis shows that the Euro initially rose during Monday’s trading session but later retreated. The 1.09 level continues to act as a strong resistance point. Breaking above this level will require significant momentum.
In case of a short-term pullback, the 1.08 level is expected to provide support, especially with the 200-day EMA and the 50-day EMA potentially forming a Golden Cross at that level. Both the European Central Bank and the Federal Reserve are likely to cut rates, but it’s important to note that much of the EU was closed during the day, impacting overall liquidity.
The movement of interest rates in the US plays a crucial role in determining the strength of the US dollar. This factor, along with other economic indicators, will continue to influence the Euro vs US Dollar exchange rate in the near future.