The Fed will hand down its policy decision on Wednesday, with some investors starting to speculate that it is possible, although unlikely, that the central bank will hike interest rates for the first time since early 2020.
The EURUSD market posture is negative still. The slide back through last Friday’s reversal leaves trade positioned to continue attacking under 1.1300. A close under 1.1300 projects to 1.1234. Any near term rebounds will find resistance at 1.1380 for today. A close over 1.1398 (SAR) is needed to recapture bottoming / bullish trade action.
Resistance 2 1.1380
Resistance 1 1.1360
Support 1 1.1320
Support 2 1.1300
Resistance 2 1.1380
Resistance 1 1.1360
Support 1 1.1320
Support 2 1.1300