EUR will decrease because USD still has room to increase in pric

23 окт. 2023 г.

The Euro rebounded last week. The coin has managed to stay well above the 1.05 level. However, the short-term outlook has not yet turned optimistic. The key resistance levels for the coin are 1.0650-1.07. The currency needs to rally beyond 1.07 to be able to rise to 1.08 and even higher.

Conversely, if the Euro remains below 1.07 it will continue this trend down to 1.05 and even 1.04 in the short term.

The European Central Bank's (ECB) monetary policy meeting will take place on October 26. The market is closely watching this event to understand whether the ECB will pause interest rate increases or not.