EURUSD
In the US, recession fears have eased somewhat and markets have generally shown some relief. With recession concerns strengthening expectations of aggressive interest rate cuts by the Fed, the Euro, which has benefited from the weakening of the dollar, is trading at its highest levels in the last seven months. The daily loss for the pair, which closed at 1.0951 on the previous trading day, was 0.01%. The RSI indicator for the pair, which is above its 20-day moving average, is at 63.84, while its momentum is at 100.62. The 1.0963 level can be followed in intraday upward movements. If this level is exceeded, the 1.0974 and 1.0984 resistances may become important. In possible pullbacks, 1.0942, 1.0932 and 1.0921 will be monitored as support levels. Support: 1.0942 – 1.0932 Resistance: 1.0963 – 1.0974