EUR/USD Price Analysis: Moves above 1.0800; next barrier at upper boundary of the channel

EUR/USD may test the upper boundary of the ascending channel around the level of 1.0870. The 14-day RSI suggests a confirmation of a bullish trend for the pair. The pair could find key support around the nine-day EMA at the 1.0766 level. A technical analysis of the daily chart indicates a bullish bias, with the pair oscillating within an ascending channel.

Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.

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