EUR/USD pair rallied in the short term as the Dollar Index is in a corrective phase. The price action ignored the near-term resistance levels signaling further growth. Today, the Euro-zone and US data came in mixed. It remains to see how it will react after the BOC and after the US New Home Sales publication. The economic indicator is expected at 579K below 685K in the previous reporting period.

 

Technically, stabilizing above the 1.0000 psychological level may signal an upside continuation. The bias is bullish in the short term as long as it stays above the uptrend line. 

Chart


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