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.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Option expiry’s Wed: €1.5bn at 1.0940/55 stands out

  2. Forex News

    EUR/USD bears target 1.0800 while below 1.0910 - FXStreet

  3. Forex News

    Greenback demand across the majors - FXStreet

  4. Forex News

    EUR/USD falls 1% on the day

  5. Forex News

    EUR/USD: Grexit concerns weigh on the euro - Scotiabank

Trading Center