EUR/USD Maintains Bullish Momentum Above 1.1700 Key Level
EUR/USD continues its bullish trajectory, holding firmly above the psychological 1.1700 level with gains of 0.15% in early trading. The pair's strength reflects ongoing dollar weakness amid expectations of a more dovish Federal Reserve stance in 2024. European economic data has shown resilience, with recent PMI figures beating expectations and supporting euro strength. Technical indicators remain bullish, with the RSI at 65 suggesting room for further upside without being overbought. Immediate resistance lies at 1.1750, followed by 1.1800. Support is well-established at 1.1700 and 1.1650. The bullish trend remains intact as long as the pair holds above the 1.1650 level. Traders are positioning for potential moves toward 1.1800 ahead of next week's ECB meeting, where officials may signal continued hawkish policy.
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