EUR/USD critical moment

The eurozone is facing many challenges, and the recent OPEC decision to cut output seems to have just added fuel to fire. Even though Saudi Arabia lowered oil prices, the risk for the Old Continent to face a cold winter is still high and this factor is likely to significantly weigh on the euro.

A key level to watch for in EUR/USD is the 0.98500 level. A material break above this level is needed to incite more buyers to jump in, otherwise, the risk to the downside remains high.

Business Digest