EUR/USD Price Forecast: Holds gains above 1.1450, but remains technically bearish below 100-day SMA
The EUR/USD pair trades in positive territory around 1.1475 during the early European session on Tuesday. The Euro (EUR) edges higher against the US Dollar (USD) amid improved risk sentiment as traders pinned their hopes on US-Iran talks.
The EUR/USD pair maintained its gains above 1.1450 early Tuesday as the Euro edged higher against the US Dollar, driven by improved risk sentiment and expectations of US-Iran talks. However, technical indicators suggest a bearish outlook for the pair below the 100-day simple moving average. Political instability in Germany, with the Alternative for Germany party gaining significant ground in state elections, may also impact the euro's performance.
Analysts at MUFG warn that the recent political and fiscal developments could erode confidence in the Euro in the near term.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
