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Jul 31 - 02:36 AM
EUR/USD - Stuck Around 1.1150 As Fed Decision Looms
First appeared on eFXplus on Jul 30 - 11:30 PM
  • EUR/USD spun its wheel between 1.1148/59 in quiet Asian session
  • Market is looking ahead to key Fed decision later today
  • Fed likely to cut 25 BPs but focus will be in statement and Powell presser
  • If Fed cuts and signals more easing on the way, the EUR/USD to break higher
  • If Fed less dovish than market is expecting EUR/USD will test/break 1.1100
  • Support formed ahead of 1.1100 where option barriers tipped
  • Resistance 10-day MA (1.1172) & break targets 38.2 of 1.141/1.1101 @ 1.1219

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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