Euro (EUR) is week mein US Dollar (USD) ke against traction gain karne mein koshish kar raha tha, lekin slightly dip hone ke bawajood 1.0850 level ke kareeb hi raha. Yeh stagnation kuch key technical levels ki wajah se hai jo support aur resistance dono ka kaam kar rahe hain. 1.0850 zone daily moving averages (DMAs) ke beech mein sandwich hai jo short-term price trends ko dictate karte hain. Market participants filhal cautious hain, dono taraf se aane wale major economic data releases ka intezar kar rahe hain. Yeh data likely EUR/USD pair ki future direction ko influence karega. Key events mein US Consumer Price Index (CPI) Wednesday ko aur European Central Bank's (ECB) interest rate decision Thursday ko shamil hain. US CPI anticipate kiya ja raha hai ke inflation mein slight slowdown dikhayega, jahan 0.3% increase expected hai compared to February ke 0.4%. Annual inflation bhi modestly rise karne ki umeed hai from 3.2% to 3.4%. Core CPI, jo volatile components like food aur energy ko exclude karta hai, monthly aur yearly basis pe dip hone ki prediction hai.
Upside pe, EUR/USD growth ka potential 100-DMA at 1.0872 se limited hai. Yeh buyers ko 1.0900 mark surpass karne se rok raha hai, jo agar breach ho gaya, toh higher levels like March highs of 1.0942 aur 1.0984 ki taraf rasta khul sakta hai. Conversely, agar price combined support of the 50-day aur 200-day EMAs at 1.0830 ke neeche gir gaya, toh EUR/USD ko 1.0800 barrier test karne ka exposure ho sakta hai. Further weakness se psychological level of 1.0750 target ho sakta hai, followed by April low of 1.0724. Yeh area February mein bhi support provide kar chuka hai. Agar EUR/USD ka recovery stall ho gaya, toh February-March support zone around 1.0795 ka potential retest possible hai. Confirmed break below is level se decline towards the recent low of 1.0722 trigger ho sakta hai aur shayad 2024 low of 1.0693 tak bhi. On the other hand, agar bulls cluster of moving averages at 1.0875 ko overcome kar lete hain, toh initial upside challenge emerge ho sakta hai. Lekin sustained breakout above this area ko lower highs around 1.0941, 1.0963, aur 1.0980 pe resistance milne ki umeed hai, jo collectively downtrend line form karte hain.
Upside pe, EUR/USD growth ka potential 100-DMA at 1.0872 se limited hai. Yeh buyers ko 1.0900 mark surpass karne se rok raha hai, jo agar breach ho gaya, toh higher levels like March highs of 1.0942 aur 1.0984 ki taraf rasta khul sakta hai. Conversely, agar price combined support of the 50-day aur 200-day EMAs at 1.0830 ke neeche gir gaya, toh EUR/USD ko 1.0800 barrier test karne ka exposure ho sakta hai. Further weakness se psychological level of 1.0750 target ho sakta hai, followed by April low of 1.0724. Yeh area February mein bhi support provide kar chuka hai. Agar EUR/USD ka recovery stall ho gaya, toh February-March support zone around 1.0795 ka potential retest possible hai. Confirmed break below is level se decline towards the recent low of 1.0722 trigger ho sakta hai aur shayad 2024 low of 1.0693 tak bhi. On the other hand, agar bulls cluster of moving averages at 1.0875 ko overcome kar lete hain, toh initial upside challenge emerge ho sakta hai. Lekin sustained breakout above this area ko lower highs around 1.0941, 1.0963, aur 1.0980 pe resistance milne ki umeed hai, jo collectively downtrend line form karte hain.
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