Market Outlook: Euro Must Rally Above 1.06 Dollars

Forex - UniCredit Research analysts stated that their chart analysis indicates that the Euro needs to rise above 1.06 dollars for investors to be convinced that the recovery is credible. Analysts commented, “Charts still require a recovery above 1.06 dollars and at least 1.0660 dollars for a more convincing and sustainable relief for the Euro.” The Euro is currently at 1.05336 dollars, reflecting a decrease of 0.3%.