EUR/USD jumps around the key resistance of 1.0900 in Monday’s European session.
EUR/USD climbs to near 1.0900 as the US Dollar faces intense selling pressure ahead of the US presidential election and the Fed ’s policy announcement. The latest polls have shown Harris having a slight advantage over Trump. The Fed is expected to cut interest rates again on Thursday, but at a slower pace than the 50 bps trim it delivered in September.
0900 EUR/USD strives to extend its upside above the key resistance of 1.0900, which also aligns with the 200-day Exponential Moving Average . The pair rebounded sharply after gaining a firm footing near the upward-sloping trendline around 1.0750, which is plotted from the April 16 low at around 1.0600. The 14-day Relative Strength Index climbs to near 50.00, suggesting that the bearish momentum is fading. Looking up, the shared currency pair could rise to near the September 11 low around 1.
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