Market Outlook of EURUSD on Tuesday September

Technical Analysis
USDCAD have big potential to sell around 1..34917. 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 1.34483.


Fundamental Analysis
The US dollar was strong yesterday, September 25, 2023. The US Dollar Index (DXY), which measures the value of the US dollar against a basket of six foreign currencies, closed at 105.20, up 0.25% from the previous day.

The dollar's strength was driven by a number of factors, including:

Rising US Treasury yields. Yields on US Treasury bonds rose yesterday, making US dollar-denominated assets more attractive to investors.
Hawkish Federal Reserve stance. The Federal Reserve has signaled that it intends to continue raising interest rates in order to combat inflation. This has led to expectations that the US dollar will continue to strengthen in the near term.  DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete