The EUR/USD pair edges higher during the Asian session on Wednesday and for now, seems to have snapped a two-day losing streak to a nearly two-week low, around the 1.0835 region touched the previous day.
EUR/USD attracts some buyers and moves away from a two-week low set on Tuesday. The technical setup warrants some caution for bullish trades ahead of the Fed decision. A sustained break below the 1.0835 confluence should pave the way for deeper losses. Spot prices, however, lack follow-through buying as traders seem reluctant to place aggressive bets and prefer to wait on the sidelines ahead of the outcome of the highly anticipated two-day FOMC policy meeting later today.
0835 confluence support. The said area comprises the very important 200-day Simple Moving Average and the 50% Fibonacci retracement level of the February-March positive move, which might continue to protect the immediate downside and act as a key pivotal point. A convincing break below will be seen as a fresh trigger for bears and drag the EUR/USD pair lower.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Analysis: Holds below the mid-1.0900s, bullish outlook remains intactThe EUR/USD pair trades on a weaker note below the mid-1.0900s during the early European session on Thursday.
Read more »
EUR/USD Price Analysis: Keeps the bearish vibe above 1.0870The EUR/USD pair trades on a negative note during the early European session on Tuesday.
Read more »
EUR/USD Price Analysis: Hovers below the psychological resistance of 1.0900EUR/USD edges lower to near 1.0890 during the Asian market hours on Monday.
Read more »
EUR/USD Price Analysis: Retreats from the weekly high to near 1.0770EUR/USD retreats from the weekly high of 1.0789, which was recorded on Monday, snapping a four-day winning streak.
Read more »
US Dollar’s Bullish Bias Holds Steady; Setups on EUR/USD, GBP/USD, Gold PricesThis article delves into the outlook for EUR/USD, GBP/USD, and gold, shedding light on crucial price thresholds to monitor in the upcoming trading sessions.
Read more »
Euro Technical Analysis & Trade Setups - EUR/USD, EUR/GBP and EUR/JPYThis article dissects the technical outlook for EUR/USD, EUR/GBP, and EUR/JPY, scrutinizing price action dynamics and sentiment to glean insights into potential directional shifts.
Read more »