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US Dollar’s biggest weekly increase since March – EUR/USD Market Outlook – 28/09/2020

SquaredFinancial

The USD recorded its biggest weekly increase since March as the pair settled just above the 1.16 mark last week, despite equities rebounding. Worries about the global economic situation from the second wave of the coronavirus infections continued benefiting the greenback’s status as the global reserve currency. Market participants now look forward to the ECB President Christine Lagarde’s speech for any fresh momentum. The key focus, however, will be on tomorrow’s US presidential debate which will likely influence the USD price dynamics. A bounce from this key support area towards 1.17 is probable before the bears resume the sell-off.

Support: 1.1615/ 1.1540
Resistance: 1.17 / 1.1770

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/biggest-weekly-increase-on-the-usd-since-march-eur-usd-market-outlook-28-09-2020
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