EUR/USD advanced for a fourth day on Monday. If bad news is ‘in the price’, the pair is unlikely to slip back to the 0.9550 low, economists at Société Générale report.
The 0.9950 area is significant resistance
“The bad news is priced in and so the hurdle for a return towards the low nearer 0.9550 is high even with the German economy flirting with recession.”
“The 0.9950 area is significant resistance for those targeting a test of parity.”
See – EUR/USD: There will likely be a deadlock for now – Commerzbank
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