EUR/USD Could Head Towards 1.1600 as Dollar Index Fails to Hold 100
The Dollar Index retreats below 100 after failing to sustain above that level, while EUR/USD bounces and may target 1.1600 or higher. EUR/INR remains bearish below 111, and EUR/JPY could test 186.
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The US Dollar Index has slipped back from above 100 and is now heading toward 99, unable to hold earlier gains. This weakness is fueling a euro recovery, with EUR/USD potentially moving toward 1.1600 or higher in the near term.
In cross pairs, EUR/INR looks bearish below the 111 level, while EUR/JPY could test the 186 mark if current upward momentum continues.
Source: FXStreet Forex News