EUR/USD Maintains Steady Upward Trend Amid Softening USD
EUR/USD maintains an upward channel oscillating around the 1.0700 level. The weakening strength of the USD is gradually paving the way for a gentle rise in this currency pair.
From a technical standpoint, we observe that EUR/USD continues to hold above the simple moving averages (SMA), while the relative strength index (RSI) remains around the 60 mark, indicating stability in the upward trend.
Expectations for further price increases in this pair will encounter a resistance level at 1.0714, potentially shaping the trajectory of its future upward movement.
From a technical standpoint, we observe that EUR/USD continues to hold above the simple moving averages (SMA), while the relative strength index (RSI) remains around the 60 mark, indicating stability in the upward trend.
Expectations for further price increases in this pair will encounter a resistance level at 1.0714, potentially shaping the trajectory of its future upward movement.
