EUR/USD hits new January low level

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Source: Dukascopy Bank SA


The EUR/USD passed the support of previous January low levels near 1.1275. However, the pair has close by the December 21 and 22 low level zone above the 1.1260 mark. Meanwhile, the US Dollar is expected to strengthen, as the markets expect Wednesday's hawkish Federal Reserve announcements at 19:00.

In the near term future, the pair could make an attempt to pass the 1.1260 zone. A move below the 1.1260 could aim at the December low level zone and the weekly S2 simple pivot point at 1.1227/1.1236.

On the other hand, a potential recovery of the rate could find resistance in the previous January low levels and the weekly S1 simple pivot point at 1.1286.
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