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Jul 25 - 08:55 PM

EUR/USD - Opens Slightly Higher As It Consolidates Ahead Of Fed

By John Noonan  —  Jul 25 - 07:10 PM
  • EUR/USD opens a few pips higher after another day of whippy consolidation

  • Pair fell sharply to 1.0179 after weak German IFO and more energy concerns nL8N2Z61UXnL8N2Z629S

  • It snapped back to 1.0258 on short covering and broad USD and JPY selling

  • Support is at the 10-day MA which ascends to 1.0160

  • Resistance is at the July 21 pullback high at 1.0279

  • Much of price action driven by positioning ahead of Wednesday's Fed decision

  • Consolidation likely to continue during the Asian session

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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