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July 10th, local time on July 9th, Ukrainian President Zelensky met with US Special Envoy for Ukraine Kellogg in Rome, Italy. Kellogg was a member of the US delegation to attend the International Conference on Ukraine Reconstruction held in Rome, Italy from July 10th to 11th. Zelensky said that the two sides discussed issues such as purchasing US weapons, conducting joint defense production, localizing weapons production in Ukraine, and sanctions against Russia. Previously, US President Trump promised to provide Ukraine with additional weapons.July 10, the Russian Ministry of Defense issued a war report on the 9th, saying that the Russian army carried out a cluster attack on the infrastructure of Ukrainian military airports. Ukraine said on the same day that Russia launched a new round of large-scale attacks on multiple Ukrainian cities. The Russian Ministry of Defense issued a war report saying that in the early morning of the 9th, the Russian army used long-range air-based high-precision weapons such as "Dagger" hypersonic missiles and long-range attack drones to carry out a cluster attack on the infrastructure of Ukrainian military airports. The strike target has been achieved and all established targets have been destroyed. The Russian air defense system shot down 9 guided air bombs, 4 US-made "HIMARS" rockets and 226 drones.A Russian airstrike in Kostyantynivka in Ukraines Donetsk region has killed three people, local emergency services said.July 10, a spokesman for the British Prime Ministers Office said on July 9 that British Prime Minister Starmer met with visiting French President Emmanuel Macron at 10 Downing Street that afternoon. Both sides agreed that combating illegal immigration and smuggling is a priority for both countries and joint action must be taken. A spokesman for 10 Downing Street said that Starmer and Macron also expressed their willingness to further deepen the partnership between the two countries, including strengthening defense cooperation, expanding bilateral trade and investment, and strive to make tangible progress in the above areas when the 37th UK-France summit is held on the 10th.July 10th news: On July 9th local time, the U.S. Senate confirmed Brian Bedford as the Director of the Federal Aviation Administration with 53 votes in favor and 43 votes against.

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.