FX.co ★ EUR/USD trades under 1.0700

EUR/USD

Euro has been consolidating under 1.0700 for more than a week. Most likely, this is due to the market's sentiment with the end of the year, as well as the uncertain outlook for economies in both the US and the EU in early 2023.

In technical aspects, this horizontal consolidation below the resistance level suggests a breakout and a potential rise. However, it is unlikely to be very strong, so it is best to continue selling euro from 1.0720, especially in the case of growth to 1.0800 - 1.0900.