During recent trading sessions in Asia, the Euro experienced a downturn, settling below the 1.0720 threshold against the US Dollar. This movement follows the European Central Bank’s (ECB) recent decision to maintain interest rates at a steady 4.5%. With no significant economic data scheduled for release from the United States today, investors are weighing the implications of the ECB’s stance and its potential impact on the Euro.

The ECB’s decision to hold interest rates steady reflects a cautious approach amidst varying economic signals across the Eurozone. This status quo decision contrasts with the dynamic fiscal environments in other major economies, leading to fluctuations in the Euro-Dollar exchange rate. As traders digest these developments, the stability of the Euro remains under scrutiny, influenced by both domestic European economic indicators and broader global market trends.

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Looking ahead, market participants will continue to monitor the Eurozone’s economic indicators closely, particularly any changes in monetary policy that could influence the currency’s performance against the Dollar. With the ECB’s interest rates holding steady, the focus now shifts to upcoming economic reports and geopolitical developments, which could further drive the Euro’s trajectory in the global currency markets.

Technical analysis

Euro - Dollar Analysis Technical analysis 12/04/2024

Time Frame: 1 hour

EURUSD Support & Resistance Table – 12/04/2024

Support & ResistanceLevelExplanation
Resistance 21.0758Daily R2
Resistance 11.0738Daily R1
Support 11.0686Daily S1
Support 21.0666Daily S2

EURUSD Indicator Table – 12/04/2024

IndicatorSignal
SMA 20Sell
SMA 50Sell
SMA 100Sell
MACD( 12;26;9)Sell
RSI (14)Sell
Stochastic ( 9;6;3)Neutral

EURUSD Indicator / Period Table – 12/04/2024

Indicator / PeriodDay – SellWeek – SellMonth – Sell
MACD( 12;26;9)SellSellSell
RSI (14)SellSellNeutral
SMA 20SellSellSell

EURUSD 12/04/2024 – Reference Price : 1.0709

SELLSimple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (2)

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