FXStreet (Córdoba) - The EUR/USD remains steady during the American session, consolidating near daily lows. After falling following CPI data from the US, the pair bottomed at 1.3535 and then recovered slightly.
The rebound from daily lows found resistance quickly below 1.3550. In the last six hours it has been trading within a range with support at 1.3535 and resistance below 1.3550.
Will the FED break EUR/USD range?
Since a week ago the EUR/USD is moving sideways below 1.3600 and above 1.3500, stable after falling from levels near 1.40. On Wednesday the Federal Reserve will announce its decision on monetary policy and Janet Yellen will held a press conference.
“If Yellen surprises the market with a hawkish stance, then EURUSD will probably break below the strong support area between 1.3480 and 1.3500”, says Alberto Muñoz, Forex Analyst at FXStreet.