EUR/USD rose considerably on Monday, amid weak global manufacturing data and further indications from the Federal Reserve that it will continue to raise interest rates gradually during its first tightening cycle in nearly a decade.
The currency pair traded in a broad range between 1.0825 and 1.0913, before settling at 1.0885
EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.
Our Most Likely Scenario :- Long Above @1.0870 with target 1.0968 if its break 1.0968 then our next target is 1.1025 to continue its uptrend
Alternative:- Short below @1.0870 with 1.0772 to test 21st January Low.
Moving average gives bullish indication for this pair.
RSI still moves in uptrend
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