Exness tracks euro gains against dollar ahead of NFP

Exness tracks euro gains against dollar ahead of NFP

Amid rising expectations of fiscal stimulus in the United States of America, the euro is growing against the dollar. A fresh post from Exness Education is dedicated to this.

The broker notes that the single currency peaked in more than 2 years at $1.2139. The key drivers of the move towards fiscal stimulus in the US and the general weakness of the dollar. There is no clear high resistance on the chart ($1.25 since January 2018), according to Exness staff. Over the next few months, this psychological area can become an obstacle. At the same time, 1.20 is an obvious round number. The lowest support can be seen at $1.175. This area of ​​consolidation was recorded in early November.

The overall technical picture for EURUSD remains positive. However, weak fundamentals and obvious customer saturation may limit future income. “The NFP is setting the direction of this symbol,” says Exness.

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