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EURUSD Extends Gains As Equities March Higher

EUR

EURUSD has extended gains in recent trade following an additional breach of resistance at 1.0051, the high on September 20, trading to fresh highs of 1.0081 as of writing amid a push higher for major equity indices.

  • Topside momentum has been gaining traction following the pair breaking above the notable 2022 channel resistance.
  • Give the current price action and tomorrow’s ECB meeting in focus, it is worth noting the next level on the topside at 1.0198, the Sep 12 high and a key resistance.
  • Short-term support now resides at October 4th’s high of 0.9999 that was an acceleration point during the European session on Wednesday.
  • A link to the MNI preview for those that haven’t seen: https://roar-assets-auto.rbl.ms/documents/19850/ECB%20Preview%20Oct%202022.pdf
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