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Dec 13 - 10:55 PM

EUR/USD - Consolidates In Narrow Range Ahead Of Fed Decision

By John Noonan  —  Dec 13 - 10:20 PM
  • EUR/USD opened +0.85% at 1.0629 after USD sold off in wake of softer US CPI nL1N3331LO

  • Asia left it alone, as market awaits Fed decision later today

  • It traded in a 1.0624/39 range and is unchanged heading into the afternoon

  • Sentiment is bullish and more buying expected if Fed isn't overly hawkish

  • Support is at former resistance at 1.0595 where buyers are tipped

  • More support is at the 10-day MA at 1.0541 and 21-day MA at 1.0444

  • Resistance is at the 61.8 of the 2022 fall at 1.0743

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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