Market Outlook of EURUSD on Thursday September 2023

Technical Analysis
EURUSD have big potential to sell around 1.05726. 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.


Fundamental Analysis
The US dollar was strong yesterday, September 27, 2023. The US Dollar Index (DXY), which measures the greenback's value against a basket of six major currencies, rose by 0.2% to close at 112.90. This was the highest level for the DXY since May 2002.

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

Rising US Treasury yields. US Treasury yields rose to their highest level since 2007 yesterday, as investors anticipated further interest rate hikes from the Federal Reserve. Higher interest rates make US dollar-denominated assets more attractive to investors, as they offer higher yields.  DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete