4 Global Market Updates- 25 August, 2022

 

In this article, we have covered the highlights of global market news about the EUR/USD, NZD/USD USD/CAD and EUR/HUF.
EUR/USD Price Analysis: Breaks through bearish channel to highlight 1.0100 barrier

In defiance of the eight-day-old negative trend, the EUR/USD price rose to a new weekly high of 1.0025 on Thursday morning in Europe.

The short-term negative trend channel’s upward break also gets cues from the RSI’s recent recovery and the MACD signals’ waning bearish bias (14).

With this, the EUR/USD buyers are moving closer to a horizontal resistance that will last for one month at 1.0100. However, the major currency pair’s potential gains may be limited by the 21-DMA at 1.0155.

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