Technical Analysis

Dollar keeps lower so far on the session

EUR / USD has been floating at its highest level since January

When European traders entered earlier, the dollar weakened, helped by the fact that USD / CNH fell below 6.40 to its lowest level since 2018.

But since then, the dollar’s decline has been kept under control, with no particular elongation seen. EUR / USD is currently trading at around 1.2250-60, maintaining perhaps the highest level since January major obsolescence remove later restrictive profits now:
EUR / USD D1 25-05

From a technical point of view, buyers need to insure tightly above the highest of @ 1.2241 on February 25 to create a more secure platform for the next stage.

Elsewhere, GBP / USD has risen slightly to 1.4174 during the day, but has supported previous highs of 1.4211, as the 1.4200 level remains a challenge for buyers.


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