FxWirePro: EUR/USD gains some upside momentum but still bearish
The EUR/USD pair traded in higher range on Tuesday as the pair was supported by uncertainty about whether the U.S. central bank will raise interest rates next week. Fed Governor Lael Brainard, the last Fed official to co…
The EUR/USD pair traded in higher range on Tuesday as the pair was supported by uncertainty about whether the U.S. central bank will raise interest rates next week.
Fed Governor Lael Brainard, the last Fed official to comment before the U.S. central bank's next meeting, kept to a dovish tone on rates and urged caution about removing monetary stimulus too quickly.
Further upside in this pair should be limited as euro is set to weaken against green back in the short term.
To the upside, the strong resistance can be seen at 1.1289, a break above will take the pair towards next resistance level at 1.1335.
To the downside, immediate support can be seen at 1.1203 levels, a break below will open the door towards next level at 1.1165.
