The dollar was up on Wednesday morning in Asia and the Euro was near its weakest in a month versus the safe-haven dollar and Japanese yen. Investors remain concerned about a potential armed conflict in Ukraine, and faster-than-expected U.S. policy decision monetary policy tightening.
Overall the EURUSD market is bearish and after close selloff puts trade into a bear stance, positioned for declines to test under 1.1260. A close under 1.1260 warns for a wash towards the 1.1186 November low. Any congestion trapped inside yesterday’s range will remain aligned for selloffs. SAR for today 1.1350.
Resistance 2 1.1340
Resistance 1 1.1320
Support 1 1.1280
Support 2 1.1260