FxWirePro: EUR/USD neutral in the near-term, scope for downward resumption
The EUR /USD pair hovered around 1.0600 levels on Tuesday as the market waited on a speech by U.S. President Donald Trump that is expected to provide more clarity on economic reforms. Investors are shifting their attenti…
The EUR /USD pair hovered around 1.0600 levels on Tuesday as the market waited on a speech by U.S. President Donald Trump that is expected to provide more clarity on economic reforms.
Investors are shifting their attention to Trump's policy speech to a joint session of Congress on Tuesday night, when he is expected to provide clues on his tax-cutting plans.
Markets worldwide are on tenterhooks before Trump's first Congressional address, where he could also accuse countries, especially China, of currency manipulation.
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 1.0562, a break below at this level will open the door towards next level at 1.0524.
