EUR/USD extended its weekly slide on Wednesday and lost nearly 0.3% on the day.
EUR/USD trades at multi-month lows near 1.0850 on Thursday. The European Central Bank is forecast to cut key rates by 25 basis points. The near-term technical outlook points to oversold conditions. The pair struggles to stage a recovery early Thursday and trades near 1.0850 as investors gear up for the European Central Bank's monetary policy announcements. Euro PRICE This week The table below shows the percentage change of Euro against listed major currencies this week.
A noticeable decline in the number of first-time unemployment benefits could support the US Dollar . EUR/USD Technical Analysis The Relative Strength Index indicator on the 4-hour chart stays below 30, suggesting that EUR/USD is technically oversold. In case the pair stages a technical correction, 1.0900 could be seen as first resistance level before 1.0950 and 1.1000 . Looking south, supports could be spotted at1.0800 and 1.0780 .
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