The dollar was down on Thursday morning in Asia, recording its sharpest fall in more than a month, as investors reacted to the U.S. Federal Reserve’s latest policy decision that put paid to the possibility of super-size hikes.
Technically, being in the oversold area, the EURUSD market has climbed into a short term bull upswing and posting a close over 1.0660 implies an extension to 1.0730. Trade may slip into Friday’s range and consolidate gains, but suspect support at 1.0490 will bounce trade back to positive trade action.
Resistance 2 1.0660
Resistance 1 1.0640
Support 1 1.0590
Support 2 1.0570
Technically, being in the oversold area, the EURUSD market has climbed into a short term bull upswing and posting a close over 1.0660 implies an extension to 1.0730. Trade may slip into Friday’s range and consolidate gains, but suspect support at 1.0490 will bounce trade back to positive trade action.
Resistance 2 1.0660
Resistance 1 1.0640
Support 1 1.0590
Support 2 1.0570
