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EURUSD News

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Last Updated Date: 17 January 2022 @ 7:05 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar clung to a late week bounce on Monday as investors braced for January's U.S. Federal Reserve meeting and raised bets it will chart a year ahead containing several rate hikes, while China cut borrowing costs to support a stuttering economy.

The EURUSD market is showing a bear downturn and potential for a selling wave to 1.1371 as well as potential to 1.1312. A drop through 1.1390 will foster continuation selloffs today. Any congestion under Wednesday’s range high will keep the market setup in a bear flag. Trade must post a close over 1.1480 to reverse out of the current downturn.

Resistance 2       1.1450
Resistance 1       1.1430
 
Support 1            1.1390
Support 2            1.1371



 
 
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