EURUSD

The currency pair, when evaluated from a technical perspective, is in a long-term upward trend and is trading near its highest level since November 2021. It has been observed that the pair has shown a consistent rise over the last five weeks and is approaching significant resistance levels. From a macroeconomic perspective, the European Central Bank's (ECB) decision to lower the deposit interest rate by 25 basis points to 2.25% and the removal of the term "restrictive" from its monetary policy statements are considered supportive factors for the Euro. In parallel, criticisms from the U.S. President towards the Federal Reserve Chairman are putting pressure on the dollar. Technically, it is anticipated that the positive technical outlook in the short term may come to an end, and some selling pressure could continue.