Caution over the euro's upward trend?

Caution over the euro's upward trend?

21.06.2022

On the previous day, the U.S. currency market saw little movement due to the impact of the stock market being closed for Juneteenth; the EUR/USD pair traded within a range of 1.0471 to 1.0545, a fluctuation of about 70 pips.Technically, while the EUR/USD pair is showing a slight upward trend, supported by the 20-period moving average (MA) on the 4-hour chart, it remains capped by the 75-period MA. Therefore, should the pair rise, we will be watching closely to see if it can extend its gains to the recent high of 1.0601.

While cross-yen pairs generally saw little movement, the euro edged higher against the yen, with the EUR/JPY pair rising by about 1 yen. The EUR/JPY is currently trading around 142.190 and is testing resistance above the 10-period moving average on the 4-hour chart. We will be watching to see if further gains materialize from European trading hours through U.S. trading hours today.

Today’s schedule includes the Swiss trade balance at 15:00 (Asia time), remarks by MPC member Pill at 16:15 (Europe time), the CBI Business Survey at 19:00 (Europe time), remarks by MPC member Tenreiro at 21:15 (Europe time), Canadian retail sales at 21:30 (U.S. time),the US Chicago Fed National Activity Index at 21:30, US Existing Home Sales at 23:00, remarks by US Federal Reserve Bank of Cleveland President Mester at 25:00, remarks by US Federal Reserve Bank of Richmond President Barkin at 28:30, and New Zealand’s trade balance at 7:45 the following day. We should remain vigilant regarding the upward trend in the euro.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?