By John Noonan — Jul 25 - 11:55 PM
EUR/USD opened a few pips higher @ 1.0219 after brushing off weak German IFO nL8N2Z61UX
after trading 1.0217 it tracked higher as USD eased across the board
EUR/USD traded to 1.0250 before sellers steeped in and USD steadied
Heading into the afternoon it is trading 1.0225/30
EUR/USD resistance is at the June 21 pullback high at 1.0279
A break above 1.0280 targets the 55-day MA at 1.0450
Support is at the 10-day MA at 1.0161 and break would increase pressure
EUR/USD may continue to range-trade ahead of the Fed decision on Wednesday nL4N2Z70TX
The reaction to the Fed decisio should determine short-term direction nL4N2Z70C0
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary