EUR/USD is selling off after the release of more positive data from the US. The data suggests the Federal Reserve could delay cutting interest rates, supporting USD. The ECB continues to target June as the first month to cut interest rates. EUR/USD falls to the lower 1.0700s on Tuesday after more strong US macroeconomic data supports the US Dollar , pushing down the probability of the US Federal Reserve cutting interest rates by June to close to 50%.
A decisive break is one characterized by a long red down candle breaking cleanly through the level and closing near its low, or three consecutive red candles breaching the level. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.