January 14, 2022

EUR / USD surges start slowly, but achieve a 9-week high level!

 US dollar continues to gloom at the end of the week towards the biggest weekly fall in 8 months as investors are seen to reduce the buying position after previously the US dollar has already taken place in advance following the expectation of some interest rate hikes to happen this year .

Issues of USA Producer Price Index (PPI) data report (US) yesterday did not have a significant impact on US dollar movements.

On the currency chart of the EUR / USD currency pair yesterday, prices were seen higher after the surge on Wednesday reached the 1.14500 level after crossing the 1.14000 resistance zone.

The price hike yesterday was slower than Wednesday with the latest height level reached 1.14800 while the 1.14500 level was a price support on the bearish price at the end of the New York session.

Connecting trading at the Asian session this morning (Friday), the price shows an attempt to rise in price.

The price hike if successfully continued to be seen towards a height of 1.15300 to record the latest 9-week highest level.

On the other hand, in the event of a decline in return, prices fall below the current support level at 1.14500 will lead the RBS Zone (Resistance Become Support) at 1.14000.

The ongoing decline will signal the initial change of the bearish trend will begin returning.