EUR/USD may find good support at its 200-DMA – BBH
Source Fxstreet
EUR/USD remains heavy near this week’s lows, BBH FX analysts report.
Current account surplus is a natural source of underlying demand for EUR
"However, encouraging Eurozone fiscal developments, and the favorable balance of payment backdrop suggest EUR/USD will find good support at its 200-day moving average (1.0726)."
"The Eurozone current account surplus totaled 2.7% of GDP in January vs. 2.8% in December. Still, the current account surplus is large by historical standards and is a natural source of underlying demand for EUR."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold’s price (XAU/USD) is dipping lower and sees its second day of profit-taking while the weekly performance is still positive.
XRP has registered a notable price jump in the last 24 hours as on-chain data shows bullish developments in two key indicators. XRP Has Recently Seen Growth In Active Addresses & Whale Supply In
The AUD/USD pair struggles to capitalize on the overnight bounce from the 0.6270 area or a one-week low and meets with a fresh supply on Friday.
Gold price (XAU/USD) meets with a fresh supply during the Asian session on Friday and slides to the $3,030 area in the last hour, back closer to the overnight swing low.
USD/CAD attempts to recover from recent losses, trading around 1.4330 during Asian hours on Friday.
Related Instrument
