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The Euro under pressure as the Dollar Index attempts to break higher – EUR/USD Market Outlook – 30/06/2020

The Euro bounced towards our 1.1280 resistance level where price immediately met with sellers on the back of the better-than-expected US housing data, pushing the pair below the 50-period SMA. Interestingly, the US Dollar held its ground despite the upbeat China manufacturing PMI and the risk-on overnight rally in equities, signaling a potential USD bullish move might be on its way. Traders will focus on the US Consumer Confidence figure and also Fed’s Powell testimony for any fresh momentum.

Support: 1.1195 / 1.1170
Resistance: 1.1280 / 1.1345

SquaredFinancial Daily Market Outlook

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SquaredFinancial Review

Tuesday, 30 Jun, 2020 / 7:24

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/the-euro-under-pressure-as-the-dollar-index-attempts-to-break-higher-eur-usd-market-outlook-30-06-2020

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