Technical Analysis
EURUSD have big potential to sell around 1.08627. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 1.08163
Fundamental Analysis
The US dollar (USD) strengthened against most major currencies on Tuesday, August 22, 2023. The USD index, which measures the value of the dollar against a basket of six major currencies, rose 0.5% to 106.8. The dollar's gains were supported by rising US Treasury yields, which reached their highest level since November 2007. The 10-year Treasury yield rose 10 basis points to 4.35%.
The dollar also benefited from a risk-off sentiment in the markets, as investors worried about the global economic outlook. The European Central Bank (ECB) announced on Tuesday that it would not raise interest rates until at least 2024, which weighed on the euro. The Japanese yen also weakened against the dollar, as investors sought the safety of the US currency.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
