EURUSD
Fundamental Outlook: Goldman Sachs revised its economic growth projection for the eurozone in 2023, citing persistent turmoil in the global banking system and rising economic uncertainty. The investment bank lowered its growth forecast for the region by 0.3%, resulting in a projected GDP growth rate of 0.7% for 2023.
Technical Analysis : The currency pair is experiencing difficulties in breaking above the 50-day moving average and seems to be encountering a barrier at this point once more. This is indicated by the purple line on the chart. However, the 200-day exponential moving average, represented by the yellow line, is providing support from below. Additionally, the 1.0685 level can be considered as a support level. On the other hand, if the pair manages to surpass the 1.0725 level, it will be viewed as a critical resistance level and closely monitored.
Support: 1.0685 – 1.0660 – 1.0605
Resistance: 1.0725 – 1.0760 – 1.0775