Following Wednesday's sharp decline, EUR/USD gained traction and rose nearly 0.7% on Thursday.
EUR/USD retreats below 1.0800 after posting gains on Thursday. The Fed lowered the policy rate by 25 bps as expected. The near-term technical outlook points to a lack of bullish momentum. Following Wednesday's sharp decline, EUR/USD gained traction and rose nearly 0.7% on Thursday. The pair, however, struggles to keep its footing and trades below 1.0800 in the European morning on Friday.
0750 ahead of 1.0700 and 1.0680 . Looking north, initial resistance aligns at 1.0800 before 1.0870 . Euro FAQs What is the Euro? The Euro is the currency for the 19 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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