EUR/USD Technical Analysis: EUR/USD pulling back near 1.1580 ahead of FOMC
|- EUR/USD bear trend is on hold for the 6th consecutive day ahead of the FOMC minutes released at 18:00 GMT.
- EUR/USD is having a pullback to the 50-period simple moving average above 1.1572 support.The key resistance to break to the upside is 1.1628 swing high, after which 1.1667 and 1.1750 become the main targets.
- A sustained bear breakout below 1.1500 would invalidate the bull trend.
Spot rate: 1.1596
Relative change: 0.21%
High: 1.1623
Low: 1.1553
Main trend: Bearish
Short-term trend: Bullish above 1.1500
Resistance 1: 1.1628 August 8 high
Resistance 2: 1.1667 August 2 high
Resistance 3: 1.1750 supply level
Support 1: 1.1572 July 19 low
Support 2: 1.1542 supply/demand level
Support 3: 1.1506 June 21 low
Support 4: 1.1483 intraday swing high (August 10)
Support 5: 1.1445 last week high
Support 6: 1.1430 August 14 high
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.