Euro May Fall to 1.1500 as Dollar Index Rises Above 99.50
The Dollar Index is trading higher above 99.50 after stronger US IIP data, suggesting the euro could fall back to 1.1500. In cross pairs, EURINR may test 109 before bouncing to 111-112, while EURJPY tests resistance.
The Dollar Index remains bullish above 99.50 following stronger-than-expected US Industrial Production data released yesterday. This strength is weighing on the euro, which could slip back to the 1.1500 level against the dollar.
For EURINR, a test of 109 is possible before a rebound toward the 111–112 range. EURJPY is also approaching a resistance level, though the post does not specify the exact level.
All projections are based on current technical and fundamental conditions as outlined in the morning briefing.
Source: FXStreet Forex News