The European currency has figured out how to turn over some initial negativity, helping EURUSD pair to recover from earlier lows in the 1.1150 area to the current 1.1165 band.

The pair is experiencing some benefit today following five successive sessions with gains, including another failed endeavor to break over the 1.1180 area. The downside pressure today is additionally fortified by the nearness of overbought levels, as checked by the daily RSI.

On the economic data front, Eurozone’s Sentix Investor Confidence for November is due later. Also, ECB President C. Lagarde’s speech in Berlin is awaited. Across the pond, the ISM-NY Business Conditions Index (Oct) and Factory Orders (Sep) data is scheduled for release.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.

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