FxWirePro: EUR/USD dips below lower range after Dudley comments boosts greenback
The EUR /USD pair declined on Monday as dollar rose in the wake of hawkish comments from a Federal Reserve official. The U.S. dollar rose across the board after comments from New York Federal Reserve President William Du…
The EUR /USD pair declined on Monday as dollar rose in the wake of hawkish comments from a Federal Reserve official.
The U.S. dollar rose across the board after comments from New York Federal Reserve President William Dudley that reinforced expectations the central bank will continue on its path of tightening monetary policy.
The dollar index, tracking the greenback against a basket of key currencies, rose 0.22 percent, while the euro dipped 0.28 percent to $1.1155.
The ongoing weakness is set to continue for this pair as the resistance level at 1.1213 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, the immediate resistance can be seen at 1.1184, a break above this level would expose the pair to next resistance level at 1.1213.
To the downside, immediate support can be seen at 1.1154, a break below at this level will open the door towards next level at 1.1137.
