Donald Trump’s press conference helped to smash the US Dollar across the board, as the US president-elect didn’t say anything about key topics that investors were looking for. Trump kept its pro-Putin’s rhetoric and his promice to build a wall across the Mexico-USA border. Such comments favored to weaken the Mexican peso against the greenback and in the case of major pairs, all competitors won ground against the USD, as it was heavily sold during and after the press briefing from the Trump Tower in NY.
Our technical analysis at EUR/USD for H1 chart still keeps a bullish-recovery tone in the short-term, as the pair managed to rebound above the 200 SMA and if it does a breakout above the 1.0603 level, then it can test the 1.0655 zone. However, that resistance area could help to cap further gains in the pair and eventually, we can witness a strong pullback to test levels below the moving average mentioned above.
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