EUR/USD: Short-Term Consolidation Expected Amidst Bullish Long-Term Outlook
EUR/USD: Short-Term Consolidation Expected Amidst Bullish Long-Term Outlook
They anticipate that the EUR will likely pause and trade within a range of 1.0950 to 1.1150 against the US Dollar (USD) in the short term.
Looking ahead, they highlight a significant weekly resistance zone between 1.1215 and 1.1230, which will be crucial in determining the EUR's longer-term trajectory.
April 3, 2025: The EUR surged by 1.80%, closing at 1.1050, marking its most substantial one-day gain since November 2022.
This sharp rise prompted analysts to reassess the currency's trajectory, suggesting a potential consolidation phase rather than continued ascent.
April 2, 2025: The EUR traded within a narrower range, closing at 1.0817, reflecting a 0.09% decline.
This movement was characterized as part of a range-trading phase, with expectations of continued sideways trading between 1.0780 and 1.0840.
