The EUR/USD has extended its rebound above 1.0600, climbing to 2-day highs near 1.0670 following Thursday’s positive price action. The pair has been supported by a weaker US dollar, which has been under pressure due to concerns over the impact of the coronavirus outbreak on the US economy.
The rebound in EUR/USD has been driven by a number of factors, including a rise in risk appetite and increased demand for the euro. The pair has also been supported by positive economic data from the Eurozone, which has helped to boost investor confidence.
Next Up-Barrier Emerges Near March Top
The next up-barrier for EUR/USD has emerged near the March top, which is located near 1.0760. If the pair is able to break above this level, it could signal a further upside move towards the next resistance level at 1.0800.
However, there are a number of factors that could limit the pair’s upside potential, including concerns over the impact of the coronavirus outbreak on the Eurozone economy and the possibility of further monetary policy easing by the European Central Bank.
EUR/USD Gathers Extra Pace
EUR/USD has gathered extra pace in recent days, driven by positive price action and increased investor confidence. The pair has been supported by a number of factors, including a weaker US dollar and positive economic data from the Eurozone.
The recent rebound in EUR/USD has been driven by increased demand for the euro, which has been seen as a safe-haven currency in the face of the ongoing coronavirus outbreak. The pair has also been supported by a rise in risk appetite, which has led investors to seek out higher-yielding assets.
Conclusion
In conclusion, the EUR/USD has rebounded above 1.0600 and is eyeing the next up-barrier near the March top at 1.0760. The recent positive price action in the pair has been driven by a weaker US dollar and increased demand for the euro.
However, there are a number of factors that could limit the pair’s upside potential, including concerns over the impact of the coronavirus outbreak on the Eurozone economy and the possibility of further monetary policy easing by the European Central Bank.
