Will EUR/USD Maintain Critical Support Level and Avoid Potential Top? Credit Suisse Weighs In
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Will EUR/USD Maintain Critical Support Level and Avoid Potential Top? Credit Suisse Weighs In
The EUR/USD currency pair needs to hold onto its critical support level at 1.0483-63 to avoid a potential top. The current trading price of the pair is around 1.0630, which is higher than this important support level.
If the pair falls below this support level, it could indicate a change in the trend, which may cause the price to further decline. However, if the support level remains intact, the pair could continue to trade within its current range.
Traders will be paying close attention to economic data releases and central bank announcements, which could have an impact on the currency pair’s price. The Federal Reserve’s statements about potential interest rate hikes could be particularly important in determining the direction of the EUR/USD.
Overall, the EUR/USD is a highly monitored currency pair, and traders need to stay vigilant for any potential market changes that could affect its price.
