Technical Analysis
EURUSD have big potential to sell around 1.06609. 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 1.06167 Fundamental Analysis
The US dollar is currently strong, trading near a six-month peak against a basket of other currencies. This is due to a number of factors, including:
The Federal Reserve's aggressive interest rate hikes to combat inflation. Higher interest rates make US assets more attractive to investors, which drives up demand for the dollar.
The relative strength of the US economy compared to other major economies. The US is expected to grow at a faster pace than Europe and Japan in 2023, which is also supporting the dollar.
Safe-haven demand. The dollar is often seen as a safe-haven currency in times of uncertainty. The ongoing war in Ukraine and the global economic slowdown are contributing to safe-haven demand for the dollar.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
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