EUR/USD May Test 1.1575, Dollar Index Holds Below 99.50
The dollar index remains below 99.50, with a potential breakout toward 100-100.50. EUR/USD could test 1.1575, but a break below that level may push it down to 1.15/14, while EUR/INR could rise to 111.85-112 before facing resistance.
EURUSDUSDXEURINR
In the morning foreign exchange briefing, most major currencies are trading steadily. The dollar index is holding just below the 99.50 mark, and a decisive upside break could propel it toward the 100-100.50 range.
For EUR/USD, a test of 1.1575 is possible in the near term. However, if that level is broken to the downside, further losses toward 1.15 or 1.14 are likely. Meanwhile, the EUR/INR pair may rise to the 111.85-112 zone before encountering rejection.
Source: FXStreet Forex News