EUR/USD: Will it top $1.0920 and reach a new year’s high rate?

AAATrade Team AAATrade

EUR/USD

Looking at EURUSD’s weekly chart, we can see that the FX pair topped twice at its resistance level at around $1.0920 and currently it is traded at around $1.0904. Today, if it holds the level of $1.09, then we could see it rising above that resistance level to a new year’s high rate, otherwise it should drop towards the support level of around $1.0840. Today, the European CPI and the US’ PCE Price Index will be announced, which will play a significant part on the direction of the forex pair.

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AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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