EUR/USD May Attempt Slow Rise to 1.1450-1.1500 as Oil Tumbles
A sharp decline in crude oil prices and a steady Dollar Index could allow the euro to grind higher, with EUR/USD targeting the 1.1450-1.1500 zone.
EURUSD
The Dollar Index is holding steady near the 101 handle, with a likely near-term range between 100.70 and 101.50.
A sharp drop in crude oil prices—down roughly $10 a barrel—is contributing to calmer conditions in currency markets.
Against this backdrop, the euro may attempt a gradual advance. EUR/USD could target the 1.1450 to 1.1500 area, provided it stays above nearby support.
Source: FXStreet Forex News