Understanding the EUR/USD Movement and Key Levels for July 12

Friday, 12 July 2024, 08:11
The EUR/USD is currently encountering resistance at 1.09 and shows potential to fluctuate within the range of 1.09, 1.08, and 1.07. Traders should keep an eye on Producer Price Index (PPI) data to determine the currency pair's next direction. With summer trading conditions likely to persist, sideways movement can be expected in the market. In summary, understanding the key levels and upcoming data release is crucial for making informed trading decisions.
Dailyforex
Understanding the EUR/USD Movement and Key Levels for July 12

EUR/USD Forecast Today - July 12

The EUR/USD currency pair continues to face resistance at the pivotal level of 1.09.

Key Levels:

  • 1.09: Current resistance level
  • 1.08: Intermediate support
  • 1.07: Support level

Traders are advised to monitor the upcoming Producer Price Index (PPI) data for market direction amid the prevailing summer trading conditions that could lead to sideways movement.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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