Yesterday’s price action is suggestion a bearish bias of the forex market for EUR/USD. During the European session the pair consolidated in tight range and after the US open it was sold off. EUR/USD tested the support line around 1.4110/20 but then turned higher again. Today a few attempts for rally failed around 1.4180/90. Tomorrow’s FOMC decision is key for the next direction of the forex market. If the FED sounds more hawkish we can see a new round of US dollar strength. Support is at 1.4110/00 and 1.4010/00. Resistance is at 1.4220 and 1.4330.
No comments:
Post a Comment