• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 23, Iranian Foreign Ministry spokesman Baghae stated that the core purpose of Pakistani Army Chief of Staff Munirs visit to Iran was to convey and exchange specific information between Iran and the United States. He said, "At this stage, all our core focus is on ending this war of imposition." Baghae indicated that the two sides have held several rounds of intensive exchanges of views on different clauses in the proposal. They have also conducted in-depth discussions on issues where they have serious disagreements. Given the consistently contradictory stance of the United States, Iran cannot currently assert that this negotiation process will undergo a fundamental change. He said, "Our views have indeed converged somewhat, but this does not mean an agreement has been reached; it merely allows us to explore a possible solution."On May 23, an Iranian Foreign Ministry spokesperson stated that the current mediation process with the United States is "time-consuming and laborious" because the USs hostility dates back decades. "We discussed some key points and wording where disagreements remain, and made suggestions, some of which are still under review, with all parties expressing their opinions," the Islamic Republic News Agency quoted Bagae as saying. Bagae also thanked Pakistan for its mediation efforts.Iranian Foreign Ministry Spokesperson: We are currently focused on finalizing the memorandum of understanding with the United States. Over the past week, the two sides have been getting closer, and we must wait and see what happens in the next three or four days.Naftogaz, Ukraines state-owned gas company, reported that Russia attacked the Naftogaz oil and gas facilities in the Kharkiv and Poltava regions.Iranian Foreign Ministry Spokesperson: The trend this week is toward reducing differences, but we need to observe the situation over the next few days.

EUR/USD Price Analysis: Moves upward past the 1.0710 level of support

Daniel Rogers

Jan 11, 2023 12:05

 EUR:USD.png

 

During Wednesday's sleepy mid-Asian session, EUR/USD re-establishes its intraday high above 1.0750, extending the day-start recovery. Consequently, the major currency pair demonstrates minor advances within a three-day-old rectangle pattern.

 

The buyers remain hopeful despite the pair's spectacular return from the weekly support line and better RSI (14) levels. The crossing of the 100-HMA below the 200-HMA, also termed as a bull cross, bolsters the upside bias.

 

As a result, the EUR/USD pair is projected to exceed the immediate barrier around 1.0760, which might propel prices towards the May 2022 peak near 1.0785. Nonetheless, the 1.0800 round number and the projected overbought RSI (14) conditions at that level could represent a threat to pair buyers in the future.

 

Should the EUR/USD price move higher than 1.0800, the March 2022 low near 1.0810 might serve as the last line of defense for selling before the psychological 1.1000 level becomes the focal point for bulls.

 

On the other side, an upward-sloping support line from Monday, which was around 1.0735 at the time of writing, precludes immediate EUR/USD decline ahead of the stated rectangle's bottom near 1.0710. Nevertheless, the late-December highs offer impetus to the 1.0710 support level.

 

Even if the price goes below 1.0710, the 100-HMA and 200-HMA may withstand the pair's continuing descent around 1.0645-40.