The long term chart shows the EUR/USD at the bottom of its natural zone, and rising from this bottom.
Downward pressures are the prospect of a rise in American interest rates and commencement of Quantitative Tightening in the US, as against continuing ZIRP and QE in Europe.
A week ago it seemed that these pressures had stopped the resurgence, but China stepped in to force the Euro to rise against the Yuan, which necessarily means rising against the Dollar. The balance has, perhaps, shifted back in favour of a rising EUR/USD.
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