EUR/USD benefited from the selling pressure surrounding the US Dollar (USD) and climbed to its highest level in 10 days above 1.1100 on Monday.
EUR/USD fluctuates in a tight channel above 1.1100 on Tuesday. Hawkish comments from ECB officials support the Euro. August Retail Sales data will be featured in the US economic docket. EUR/USD benefited from the selling pressure surrounding the US Dollar and climbed to its highest level in 10 days above 1.1100 on Monday. The pair stays relatively quiet and trades in a tight channel early Tuesday.
Looking north, first resistance could be spotted at 1.1160 before 1.1200 and1.1275 . Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
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