FxWirePro: EUR/USD neutral in the near-term, scope for downward resumption
The EUR /USD pair declined on Tuesday as hawkish comments from the U.S. Federal Reserve on raising interest rates boosted greenback. Boston Fed President Eric Rosengren said on Tuesday that the era of low-interest rates …
The EUR /USD pair declined on Tuesday as hawkish comments from the U.S. Federal Reserve on raising interest rates boosted greenback.
Boston Fed President Eric Rosengren said on Tuesday that the era of low-interest rates in the United States and elsewhere poses financial stability risks and that central bankers must factor such concerns into their decision-making.
The dollar index which measures the greenback against six other major currencies, including sterling, climbed to 97.648, its highest since the end of May.
The pair remains under bears control unless until it trades below 1.1200 resistance level, therefore it is good to sell this pair on rallies.
To the upside, the immediate resistance can be seen at 1.1166, a break above this level would expose the pair to next resistance level at 1.1200.
To the downside, strong support can be seen at 1.1126, a break below at this level will open the door towards next level at 1.1087.
