The euro is knocking on the ceiling | Forexlive
Last week’s less-dovish pivot from the ECB got the euro to 1.1490 and it’s back there now on a soft US CPI. So far, sellers at 1.1500 have defended both but it’s a battle worth watching carefully as it could bring the pair to the highest since 2021.
Other than brief moment in late April, the euro has been capped below 1.1500 for more than three years. Now though there is pessimism about the US economy and some optimism about a European turnaround, particularly in light of higher government spending on the military.
It’s not clear which way this will go but watch out for buy-stops on a break of 1.1500.
EURUSD daily chart
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