FxWirePro: EUR/USD trades lower on speculations of Hawkish Fed candidate, good to sell on rallies
EURUSD drifted lower in the Asian session on rumor that Fed President Trump got impressed by hawkish Fed candidate. The pair has convincingly broken psychological support 1.1800 and declined till 1.17562. The report show…
EURUSD drifted lower in the Asian session on rumor that Fed President Trump got impressed by hawkish Fed candidate. The pair has convincingly broken psychological support 1.1800 and declined till 1.17562.
The report shows that Fed President Trump got convinced with Stanford economist John Taylor for next Fed chairman post who is considered to be more hawkish than Current Chairman Janet Yellen.
On the lower side, the near term support is around 1.1720 and any convincing break below will drag the pair down till 1.1660. Bearish invalidation only below 1.1660.
On the higher side, near term resistance is around 1.1825 and any break above will take the pair to next level till 1.1880/1.1900/1.1928 (61.8% retracement of 1.20925 and 1.16621)/1.2000.
It is good to sell on rallies around 1.1785-1.1790 with SL around 1.1825 for the TP of 1.1720/1.1660.
