FxWirePro: EUR/USD neutral in the near-term, scope for downward resumption
The EUR/USD declined at the beginning of the US session on Monday as the pair found selling interest after dollar was boosted on expectations that Federal Reserve will raise interest rates in December. The U.S. central b…
The EUR/USD declined at the beginning of the US session on Monday as the pair found selling interest after dollar was boosted on expectations that Federal Reserve will raise interest rates in December.
The U.S. central bank meets next week. It is expected to keep benchmark rates on hold but could give a clear signal of rises to come, possibly in December.
The ongoing weakness for this pair is set to continue as resistance level at 1.0954 levels should limit upside and bring decline towards lower levels in the short term.
To the upside, immediate resistance can be seen at 1.0904 a break above this level would take the pair towards next resistance level at 1.0954.
To the downside, strong support can be seen at 1.0852 levels, a break below this level will open the door towards next level at 1.0800.
