European economies are suffering recessionary economic conditions and a resurgence in inflation, dimming the likelihood of interest rate cuts in 2024 and adding to tight monetary conditions. The tight money conditions have supported the EUR, although weaker trade and growth do not auger well for 2024.
Current Level: 1.7889
Resistance: 1.7699
Support: 1.7921
Last Weeks Range: 1.7637 – 1.7899