Euro continues to recover against the dollar at the beginning of this week, after a sharp crash in the last week - that was motivated by the worries around Credit Suisse that put the European banking sector under pressure and heavily penalized the euro.
Daily Time Frame EUR/USD
On the daily chart, we can see that the price is once again testing the upper limit of the range, close to 1.0695.
This will be a decisive zone for the price to understand the next momentum in the currency pair.
EUR/USD, Daily time frame chart. Source: xStation 5
Dollar Index Daily Time Frame
On the dollar index chart, we can see that the bullish movement slowed down after the price tested the 50 period exponential moving average (EMA).
As long as the price remains below this zone, we should expect the bearish movement to continue over the next few sessions.
USD index, Daily time frame chart. Source: xStation 5
JPY leads the gains this trading session.
Heatmap. Source: xStation 5
Henrique Tomé, XTB Portugal
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