EUR/USD seems to have gone into a consolidation phase. The pair is set to move sideways awaiting a fresh catalyst, in the view of analysts at OCBC Bank.
Sideways.“Daily momentum remains bullish though rise in RSI slowed. Sideways trade likely in absence of a fresh catalyst.”“Immediate resistance at 1.0010 (50 DMA), 1.0050 levels. Support at 0.9890 (21 DMA), 0.9860 levels.”
“European Commission’s Ursula von der Leyen called for boosting common funding for EU’s strategy to shift away from Russian fossil fuel while also signalled that she’s open to discussing a temporary broad price cap on gas.”EUR/USD stays below 0.9900 after EU sales data
EUR/USD is trading little changed on the day below 0.9900 in the European session on Thursday. Eurostat reported that Retail Sales declined by 0.3% in August in the euro area but this data was largely ignored by investors who await the ECB’s meeting accounts.
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