EUR/USD Forecast: Investors await technical breakout of well-defined levels by eren_fxstreet EURUSD Euro USDollar
ECB's Knot sees possibility of bond-buying program ending earlier than planned.
On Thursday, European Central Bank Governing Council member Klaas Knot noted that the ECB could end its bond-buying program earlier than planned if inflation continues to surprise to the upside. Knot further argued that it was appropriate for theto prepare for gradual monetary policy normalization. Although these remarks helped the shared currency find some demand, the dollar's resilience limited EUR/USD's upside.
US bond markets will close early in observance of the New Year's Eve and the market action is expected to remain subdued in the remainder of the day.The Relative Strength Index indicator on the four-hour chart has retreated to 50, confirming the view that buyers show no interest in the common currency following the rejection at 1.1360. On the upside, 1.1340 aligns as interim resistance ahead of 1.1360 and 1.1400 .
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