The economic recovery in the Eurozone and the higher surge in oil prices pushed the EUR/USD higher at 1.1345. Market volatility rise as Fed policymaker claimed to stay more cautious about interest rate hike this year after showing that US economic conditions are favorable awaiting further data to be released, thus putting pressure on the US dollar. Breaking the first resistance point 1.1345 will extend gains to 1.1370 and 1.1405 as next resistance levels.
However, Dovish ECB comments will affect the EUR/USD negatively and a push below 1.1275 is needed to trigger a bearish move toward 1.1245, 1.1220 and 1.1190 respectively.
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