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Euro loses momentum against USD

4:21 PM 17 April 2023

Bulls are losing momentum this session, while the euro against the dollar pulls back below the 1.10 level.


4 hours Time Frame EUR/USD

The correction in the U.S indices is supporting the USD’s recovery, however, the pair is currently testing an important support zone.

If the price stays above the uptrend line, the bullish scenario could resume again. However, if a breakout of this zone appears, then a further pullback cannot be excluded.

 


EUR/USD, 4 hours time frame chart. Source: xStation 5

USD leads the gains this session.

Heatmap. Source: xStation 5

Henrique Tomé, XTB Portugal

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