The Euro exchange rate - the EUR/USD pair weakened below 1.09 during the early European session today as traders tended to be absent ahead of the release of US retail sales data for February, which is expected to rise by 0.8% MoM. Dovish statements from the ECB also put pressure on the Euro against the US Dollar. Currently, the pair is trading around 1.0940, down 0.07%.





Technically, the bullish outlook for EUR/USD remains solid as the pair is still above the 50 and 100-period EMA on the four-hour chart, with the RSI showing bullish signals above 50. The nearest resistance is around 1.0955, followed by 1.0981 and then 1.1000. Meanwhile, key support is seen around 1.0910–1.0915, followed by 1.0900 and then 1.0855. A breakout below 1.0900 could push the pair towards 1.0800.

Also Read:

Today's Euro Value Increases Buy Offers Around the 1.1000 Level.

Warning!

That’s today’s forex news regarding “Euro Exchange Rate Against USD Competes: Which One Offers the Best Profit?” This analysis is based on insights from fundamental and technical perspectives from trusted sources and does not constitute advice or solicitation. Always remember that this content aims to enrich readers' information. Always conduct independent research on other forex information to serve as a reference in your trading.

You can also check for the latest news and articles from GIC Indonesia daily on Google News to stay updated on the forex and crypto markets. Trade on GICTrade using an ECN account to enjoy trading with low spreads starting from zero!