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Broader U.S. dollar selling, that started yesterday after publication of the last FOMC meeting Minutes, continued today. Euro rallied a good cent before it ran out of steam above 1.0750.
Long term trendline, which I wrote about in my article few weeks ago, is holding for now. However, most signs are pointing to lower prices and the trendline may well give way in the weeks ahead. That would open door to parity (1.00) and maybe even below that, with 0.85 level being often cited in financial media.
Long term trendline, which I wrote about in my article few weeks ago, is holding for now. However, most signs are pointing to lower prices and the trendline may well give way in the weeks ahead. That would open door to parity (1.00) and maybe even below that, with 0.85 level being often cited in financial media.