Home EUR EUR/USD: 1.1700 Draws into focus

EUR/USD: 1.1700 Draws into focus

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28th September 2020

EUR/USD rebounds following1.1610 low.
Resistance seen at 1.1700

After hitting a 2 month nadir of1.1610 on Friday, EUR/USD has kicked off trading this week on a more upbeat note, rebounding to the mid-1.1600s thanks to the US Dollar weakening.

A meaningful move beyond 1.17 is needed to reinforce the idea that bulls are in control. Further pullbacks could still be on the cards though. and convince markets that the resumption of the bullish momentum is in the offing.

The upbeat outlook on EUR/USD remains as long as the pair trades above the 200-day SMA, (1.12316 today).

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Currencylive.com is a site operated by Wise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.