EUR/USD Into A Massive Rally

Both the Australian and New Zealand dollars continue to threaten their 2021 lows and. The EUR/USD has market the bottom level of the year.In fact the weekly peak for the week soared in the first week of the year (on January 6) at 1.23487.Currently, the Euro versus the USD trades at $1.1332, which is a rise of $0.00066 or 0.06% from the previous close of 1.13262.The daily trading range is from $1.1290 to 1.1342, while the trading volume is 116.903K.Technically speaking, the falling side in 2021, resulted in the price to drop below the 100 weekly moving average.

Nevertheless the price levels are around the bottoms for the year, and below key longer term moving averages, demand data supplies a support that has a slowed the retreat.On hourly basis, the consolidation converged the 100 and 200 hour moving averages close to 1.1286