EUR USD moved to upper range in Forex market
4/17/2017 8:16:05 AM
The single currency has begun the week on a stable note, taking EUR/USD to the upper end of the range near 1.0633.
The pair is advancing for the second consecutive week so far, benefiting from the renewed weaker tone surrounding the greenback, particularly after comments by President Donald Trump at the end of last week.
Nevertheless, spot keeps on to associate the drop from YTD tops beyond 1.0905 the figure seen in late March, finding some decent support in the 1.0560 region for now.
Currently the pair is gaining 0.13% at 1.0620 facing the next up barrier at 1.0628 followed by 1.0664 and ultimately 1.0680. On the weakness, a break below 1.0571 would board 1.0527 on the way to 1.0495.
FOREX market analysis by FxErvin.