The EUR/USD pair surged to 1.1132 on Monday, its highest in over a week.
EUR/USD Current price: 1.1120 Looming Fed eral Reserve’s announcement undermines demand for the US Dollar. Eurozone and United States data came in better than anticipated. EUR/USD is technically bullish and could reach the 1.1150 region in the near term. The pair trades nearby amid the broad US Dollar’s weakness, fueled by speculation the Fed eral Reserve will trim interest rates when it meets this week.
As for the United States , the country released the NY Empire State Manufacturing Index, which drastically improved to 11.5 in September from -4.7 in the previous month. As a result, the USD remained under selling pressure. There are no other relevant figures scheduled for the rest of the day. EUR/USD short-term technical outlook Technically, the EUR/USD pair is bullish. The daily chart shows it hovers near the intraday high after recovering above a bullish 20 Simple Moving Average .
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