🔍 Technical Overview
Support Levels
1.1560–1.1570 – short-term support, aligned with the 20-day moving average
1.1510–1.1520 – next support level
1.1470 – deeper swing low, significant support level
Resistance Levels:
1.1630–1.1645 – recent highs, resistance area
1.1690–1.1700 – next resistance if upward movement continues
Indicators:
The price trades above the 20- and 50-day moving averages, indicating a bullish trend.
RSI is positive but not overbought, suggesting potential for further upward movement.
📰 Fundamental Drivers
Dollar Weakness: U.S. fiscal imbalance, increasing public debt, and policy uncertainty under Trump’s administration are affecting the dollar's strength.
Euro Support
Oil & Geopolitical Factors: Oil-related geopolitical tensions contribute to safe-haven flows.
📅 Key Events This Week
26 June – ECB meeting and potential rate cut
27 June – U.S. durable goods orders and consumer sentiment data
📌 Weekly Outlook & Strategy
Bullish Scenario
Support expected to hold at 1.1560–1.1570
A break above 1.1630–1.1645 could lead towards 1.1690–1.1700
Bearish Scenario
A close below 1.1560 may result in a decline to 1.1510–1.1520, testing 1.1470