The EUR /USD pair declined on Wednesday as greenback strengthened after investor awaited details of possible economic policies from President-elect Donald Trump. Investors will have a close eye on what the new president …
The EUR /USD pair declined on Wednesday as greenback strengthened after investor awaited details of possible economic policies from President-elect Donald Trump.
Investors will have a close eye on what the new president says about labelling China a currency manipulator and free trade more generally.
The ongoing weakness is set to continue for this pair as the resistance level at 1.0570 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 1.0494, a break above this level would expose the pair to next resistance level at 1.0531.
To the downside, immediate support can be seen at 1.0453, a break below at this level will open the door towards next level at 1.0410.
