EURUSD → Consolidation before Fed Interest Rate Decision

5 hari yang lalu

EURUSD is in a consolidation phase, as is the dollar index. The outcome could be decided this week. Traders are waiting for the FED meeting on US interest rates



Globally the trend is neutral, but the price is consolidating near the key support that has been holding the market for two years. Aggressive interest rate cuts in Europe are putting overall negative pressure on the currency pair. The dollar may go into a downward correction if the decision to cut interest rates is made on December 17-18. But any hint of hawkish policy on the part of the Fed may strengthen the dollar, which will intensify the decline in EURUSD

Resistance levels: 1.0607, 1.065
Support levels: 1.045, 1.033

Based on interest, amid the downtrend, the price has not yet reached the key liquidity zone. Before important news, the market may reach 1.0607. But based on the technical and fundamental background, the fall may continue, and a breakdown of 1.0448 will strengthen this fall.

Regards R. Linda!