EUR/USD gathers strength, aiming to reclaim the key resistance of 1.1200 in Friday’s European session.
EUR/USD clings to gains above 1.1150 as more ECB policymakers show concerns over price pressures remaining persistent. Investors await ECB Lagarde’s speech for fresh interest-rate guidance. The US Dollar remains under pressure on escalating Fed dovish bets. The major currency pair strengthens as the Euro performs strongly on growing speculation that the European Central Bank will leave its Deposit Facility rate unchanged at 3.5% in its October monetary policy meeting.
The 14-day Relative Strength Index moves higher above 60.00. A bullish momentum would trigger if it sustains above the aforementioned level. Looking up, the round-level resistance of 1.1200 will act as a major barricade forthe Eurobulls. A decisive break above the same would drive the asset toward July 2023 high of 1.1276. On the downside, the psychological level of 1.1000 and the July 17 high near 1.0950 will be major support zones.
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