The EurUSd is trading near its 1.13171 resistance level, ahead of the FOMC. The current patterns suggest an up trend towards 1.13893, with 1.13436 as a primary objective, should the parity breaks 1.1317. Such a movement will reject the down trend induced by the evening star two days ago.
Failing to breakout 1.13171, will lead the parity to re-test 1.12375.
The parity was trading around 1.12889 at the opening, above of its daily Pivot Point, which is around 1.12745. The daily support levels are around 1.12285 and 1.11682. The daily resistance levels are around 1.13348 and 1.13808.
Any eventual rates hike will render deposits in USD and ON RRPs more desirable, and reflect an stronger American economy. Such a move may be hindered by the macroeconomic environment, and after a bad jobs report, postponing it to November.
Failing to breakout 1.13171, will lead the parity to re-test 1.12375.
The parity was trading around 1.12889 at the opening, above of its daily Pivot Point, which is around 1.12745. The daily support levels are around 1.12285 and 1.11682. The daily resistance levels are around 1.13348 and 1.13808.
Any eventual rates hike will render deposits in USD and ON RRPs more desirable, and reflect an stronger American economy. Such a move may be hindered by the macroeconomic environment, and after a bad jobs report, postponing it to November.
