EUR/USD Outlook (12 July 2021)
Overall, EUR/USD is trending downwards.
In the minutes for the previous monetary policy meeting released last Friday, it was stated that the central bank committee members discussed on a cut in quantitative easing during their 10 June meeting amid the picked-up pace of the ongoing economic recovery. This led to the strengthening of EUR.
Eurogroup meetings will be held today. There may be volatility in EUR.
EUR/USD’s next support zone is at 1.18200 and the next resistance zone is at 1.20000.
Look for short-term buying opportunities of EUR/USD.
In the minutes for the previous monetary policy meeting released last Friday, it was stated that the central bank committee members discussed on a cut in quantitative easing during their 10 June meeting amid the picked-up pace of the ongoing economic recovery. This led to the strengthening of EUR.
Eurogroup meetings will be held today. There may be volatility in EUR.
EUR/USD’s next support zone is at 1.18200 and the next resistance zone is at 1.20000.
Look for short-term buying opportunities of EUR/USD.
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