EUR/USD trades with a mild positive bias above 1.0550
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Today, the EUR/USD is trading at the level of 1.0550, receiving support from the modest decline of the US dollar. The decrease in US bond yields and the positive risk sentiment seem to weaken the safe-haven status of the US dollar.
This week, we will receive important news that will impact the EUR/USD, such as the FOMC minutes and US CPI. On the other hand, the next resistance level is at 1.0580, and a breakthrough would reveal last week's high at 1.0600. The short-term upward trend will remain intact as long as it stays above the level of 1.0530.
Today, the EUR/USD is trading at the level of 1.0550, receiving support from the modest decline of the US dollar. The decrease in US bond yields and the positive risk sentiment seem to weaken the safe-haven status of the US dollar.
This week, we will receive important news that will impact the EUR/USD, such as the FOMC minutes and US CPI. On the other hand, the next resistance level is at 1.0580, and a breakthrough would reveal last week's high at 1.0600. The short-term upward trend will remain intact as long as it stays above the level of 1.0530.
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good luck
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In the US, the NFIB Business Optimism index is due, seconded by Wholesale Inventories and speeches by Atlanta Fed President Raphael Bostic (2024 voter, hawk), FOMC Governor Christopher Waller (permanent voter, hawk) and Minneapolis Fed Neel Kashkari (voter, centrist).
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