The EUR/USD currency pair surged to a two-week high above 1.1650 on Thursday, reaching an intraday peak of 1.1656. This upward movement comes as the US dollar weakened, influenced by diminished expectations for Federal Reserve interest rate cuts. Traders are closely monitoring this trend as it indicates a potential shift in market sentiment.
Despite the gains, the euro was unable to break through the significant resistance level posed by the 50-day Simple Moving Average at 1.1661. The trading activity suggests that while the exchange rate is experiencing bullish momentum, the market remains cautious, signaling that further upward movement may face challenges in overcoming established technical barriers.
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Data Source: FX Killer Analysis Team Updated: 2025-11-13 20:43
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.