Slump EUR/USD Hits Latest 5-Month High!

<p>&nbsp;It is expected that the price movement will slow towards the end of this week, but the price increase continues to be strong displayed on the chart of the EUR/USD currency pair to record the latest 5-month high.</p><p><br /></p><p>The US dollar continued to experience further declines on Wednesday yesterday with a drop in the dollar index and the US 10-year treasury yield to new lows.</p><p><br /></p><p>The euro as an anti-dollar currency continues to take advantage to strengthen its value while the US dollar remains in 'tightness' at the end of this 2023 trade.</p><p><br /></p><p>On the chart of the EUR/USD currency pair, the price managed to display a daily increase of around 90 pips yesterday and reached the target level at 1.11000.</p><p><br /></p><p>Recent highs around 1.11200 were recorded in the New York session and prices slowed around that until the end of the session.</p><p><br /></p><p>Price movements that remain above the Moving Average 50 (MA50) support line on the 1-hour time frame on the EUR/USD chart expect the bullish trend to continue.</p><p><br /></p><p><br /></p><p>If yesterday's momentum is maintained, a higher increase will occur for the price to reach the next target which is at 1.12000.</p><p><br /></p><p>But is the price capable of reaching that level or will a slower movement be exhibited today?</p><p><br /></p><p>Meanwhile, the price is also at risk of experiencing a decline again if the movement begins to be below the 1.11000 level.</p><p><br /></p><p>If the price is pressed to fall again, the price is seen to approach the 1.10000 level that was the focus of the previous trade.</p>