FxWirePro: EUR/USD neutral in the near-term, scope for downward resumption
The EUR/USD pair inched higher on Monday as investors were cautious ahead of President Donald Trump's address to a joint session of Congress on Tuesday. Investors will be closely watching Trump's address for clues on his…
The EUR/USD pair inched higher on Monday as investors were cautious ahead of President Donald Trump's address to a joint session of Congress on Tuesday.
Investors will be closely watching Trump's address for clues on his proposed tax reform and his plans to overhaul the Affordable Healthcare Act.
Also weighing on sentiment was a Commerce Department report that showed new orders for U.S.-made capital goods unexpectedly fell in January after three straight months of strong gains.
To the upside, the immediate resistance can be seen at 1.0621, a break above this level would expose the pair to next resistance level at 1.0680.
To the downside, immediate support can be seen at 1.0561, a break below at this level will open the door towards next level at 1.0536.
