The EUR/USD pair traded in lower range on Tuesday as investors viewed that Federal Reserve would raise interest rates before the end of the year, and doubts grew over Donald Trump's ability to win the U.S. presidency. In…
The EUR/USD pair traded in lower range on Tuesday as investors viewed that Federal Reserve would raise interest rates before the end of the year, and doubts grew over Donald Trump's ability to win the U.S. presidency.
Investors are looking to Wednesday's release of minutes of the latest Federal Reserve Open Market Committee meeting to see how close the Fed was to hiking rates last month.
The ongoing weakness is set to continue for this pair as the resistance level at 1.1137 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 1.1094, a break above this level would expose the pair to next resistance level at 1.1137.
To the downside, immediate support can be seen at 1.1051, a break below at this level will open the door towards next level at 1.1000.
