A determined ECB could see the EURUSD climb
The EURUSD trades significantly higher, bouncing from the 0.9740 support level to approach the parity level again.
Although the price is currently consolidating below the 0.9950 interim resistance level, the EURUSD is likely to continue trading higher.
Look for the price to break above the 0.9950 and 1.00 price area to signal a stronger move higher, with the next key resistance level at 1.0085.
This move higher could also be driven by the sentiment conveyed by the ECB that it will raise rates to deliver the 2% inflation target.
Although the price is currently consolidating below the 0.9950 interim resistance level, the EURUSD is likely to continue trading higher.
Look for the price to break above the 0.9950 and 1.00 price area to signal a stronger move higher, with the next key resistance level at 1.0085.
This move higher could also be driven by the sentiment conveyed by the ECB that it will raise rates to deliver the 2% inflation target.
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