NEW YORK (Forex News Now) – As of around 8:00 A.M. GMT on Thursday, the euro was struggling to maintain the momentum of its recent rally versus the dollar in currency market trading.
This is what the analysts are saying about the currency pair in the near-term:
- According to FXstreet, the pair has “lost its bullish momentum.” In the Barcelona-based site’s EUR USD analysis, the pair is likely to find support between 1.291-1.292.
- DailyFX, however, sees EUR/USD in an upswing, with medium resistance around 1.312. The site concurs with FXstreet, though, in seeing support for the currency pair around 1.291. DailyFX also sees longer-term support around 1.2865.
- Forexcycle holds the same position as DailyFX, noting that as long as support at the FX rate of 1.2930 is not broken, the “uptrend will continue.” The site sees the next target for EUR/USD in the 1.3100-1.3150 zone.