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EUR/USD Forecast: Euro turns technically overbought ahead of US data

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28

2023-12

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2023-12-28
Market Forecast
EUR/USD Forecast: Euro turns technically overbought ahead of US data
  • EUR/USD climbed to fresh multi-month highs above 1.1100.
  • Near-term technical outlook suggests that the pair is overbought.
  • US economic docket will feature weekly Initial Jobless Claims.

EUR/USD gathered bullish momentum and advanced to its highest level since late July above 1.1100. The pair seems to have gone into a consolidation phase on Thursday as investors await macroeconomic data releases from the US.

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