EUR/USD awaits for US Federal Reserve

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The support of the 1.0400 mark eventually was enough to cause a move of the EUR/USD up to the resistance zone, which surrounds the 1.0500 mark. Meanwhile, on Wednesday, the markets were awaiting the US Federal Reserve rate hike at 18:00 GMT, which is set to reveal the future direction of the US Dollar.

Note that the publication and the follow up press conference are top fundamental events, which affect the supply of the US Dollar. Namely, as information about the future will be revealed, the EUR/USD will adjust sharply until the news are processed by the whole world.

Up to the event, note the resistance clusters at 1.0500 and 1.0600 and the support levels near 1.0400/1.0435 and the zone at 1.0330/1.0350.

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