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Since the surge at mid-day on Tuesday, the EUR/USD appeared to be waiting for this week's fundamental events. Namely, the US FOMC Meeting Minutes were expected to cause a USD move, which would impact all of financial markets.
In the meantime, on Wednesday it was spotted that the pair had revealed a resistance zone at 1.0185/1.095. If the pair reaches above the zone, the 1.0200 mark might immediately act as resistance. Higher above, note the combination of the 100 and 200-hour simple moving averages near 1.0220.
On the other hand, a decline of the currency pair could once again find support in the 1.0123 level, prior to approaching the 1.0100 mark and the late July low level at 1.0097.
Wed, 17 Aug 2022 11:54:57 GMT
Source: Dukascopy Bank SA
Since the surge at mid-day on Tuesday, the EUR/USD appeared to be waiting for this week's fundamental events. Namely, the US FOMC Meeting Minutes were expected to cause a USD move, which would impact all of financial markets.
In the meantime, on Wednesday it was spotted that the pair had revealed a resistance zone at 1.0185/1.095. If the pair reaches above the zone, the 1.0200 mark might immediately act as resistance. Higher above, note the combination of the 100 and 200-hour simple moving averages near 1.0220.
On the other hand, a decline of the currency pair could once again find support in the 1.0123 level, prior to approaching the 1.0100 mark and the late July low level at 1.0097.