EUR/USD has shown great resilience to trade higher this morning despite yesterday’s unease following reports of a missile landing in Poland. Get your market update from RichardSnowFX here:
EUR/USD Resilient after Missile Lands in Poland, Emergency NATO Meeting set for 09:00 GMT
EUR/USD has shown great resilience to trade higher this morning despite yesterday’s unease following reports of a missile landing in Poland. Comments from Joe Biden suggest that based on the trajectory, it is unlikely the missile was fired by Russia. The projectile has Europe, NATO and financial markets on alert due to the potential of a wider conflict now that a NATO ally has been adversely affected by the Russia/Ukraine conflict.
NATO has scheduled an emergency meeting for 09:00 GMT to discuss the events of yesterday and the alliance’s response.The daily chart shows how EUR/USD retraced over 100 pips from yesterday’s high, settling around the 2017 low of 1.0340. Today, there has been a continued move higher attempting to trade above that 1.0450 level which coincides with the upper bound of the significant
. Admittedly, the zone is rather large but the weekly chart below shows how price action pivoted around the 1.0310 - 1.0450 zone previously.had hovered at times during May and June this year. Support lies at 1.0340 followed by 1.0280.
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