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Euro Reclaims $1.20 Handle as Dollar Sentiment Deteriorates
Abstract：The Euro has broken through the critical $1.20 psychological barrier against the US Dollar, driven by a broad deterioration in greenback sentiment. This technical breakout suggests a potential shift in momentum for the world's most traded currency pair.
The Single Currency (EUR) surged past the psychologically significant $1.20 resistance level against the US Dollar (USD) on Wednesday, marking a potential pivot point for global FX markets.
Technical Breakout
Crossing the $1.20 threshold is more than just a numerical milestone; it represents a key technical victory for Euro bulls.
Broader Dollar Weakness
The move is largely underpinned by broad-based selling of the US Dollar. The greenback has ceded ground reflecting a recalibration of Fed policy expectations.
Technicals
- Major Currency: EUR/USD
- Breakout Level: $1.2000
- Counter Asset: USD
- Central Bank Policy Focus: Fed
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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