The Euro (EUR) starts the new trading week on a positive foot against the US Dollar (USD), encouraging EUR/USD to extend the rebound from the 1.0500 n
The Euro trades with decent gains vs. the US Dollar. Stocks in Europe kick off the week mostly on the defensive. EUR/USD meets decent contention around 1.0500 so far. The USD Index looks supported around the mid-105.00s. Germany Wholesale Prices rose 0.2% MoM in September. US NY Empire State Manufacturing Index takes centre stage later. eighbourhood and regain the 1.0540 zone so far on Monday. In the meantime, the Greenback, sheds some ground following last week’s tops near 106.
0448 and potentially challenging the significant psychological level of 1.0400. If this level is breached, it could pave the way for a retest of the weekly lows at 1.0290 and 1.0222 . It is important to note that as long as the EUR/USD remains below the 200-day SMA, there is a potential for sustained downward pressure. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone.
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