Exchange rate trend of euro against US dollar

[ahillconti]

The euro / dollar is still weak because COVID-19 is sweeping Europe and the market is seeking safer haven. The European Central Bank will raise interest rates over other central banks as the surge in new COVID-19 cases in Europe and the market are becoming more and more expected. The euro hit a low of $1251.1 on Friday. The daily chart shows that after the technical rebound on Thursday, the relative intensity index returned to 30, resulting in oversold. If the euro / dollar rebounds again, it may encounter resistance levels of 1.1370, 1.1450 (psychological level) and 1.1500 (20 day moving average). Unless the 1.1500 reversal becomes support, the euro and the dollar will remain bearish in the near future.

[SergeyUndum]

It's 9.3 now as of Thursday Dec 17th...The Irish breakfast at Obriens would cost me half of what it was back in mid-September...How low are high will it go???

[lidolove201046]

The euro / dollar is still weak because COVID-19 is sweeping Europe and the market is seeking safer haven. The European Central Bank will raise interest rates over other central banks as the surge in new COVID-19 cases in Europe and the market are becoming more and more expected. The euro hit a low of $1251.1 on Friday. The daily chart shows that after the technical rebound on Thursday, the relative intensity index returned to 30, resulting in oversold. If the euro / dollar rebounds again, it may encounter resistance levels of 1.1370, 1.1450 (psychological level) and 1.1500 (20 day moving average). Unless the 1.1500 reversal becomes support, the euro and the dollar will remain bearish in the near future.