Looking at EURUSD’s chart we can see that the FX pair dropped to the current level of around $1.0557 after Tuesday’s speech of Fed’s Powell hinting at higher rate hikes. We expect the rate to be traded below its resistance level of around $1.059.
Spotlight on EURUSD. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.
Looking at EURUSD’s chart, we can see that the FX pair dropped to the current level of around $1.0557 after Tuesday’s speech of FED’s Powel giving hints of higher rate hikes. As USD is on an uptrend, we could expect the rate to be traded below its resistance level of around $1.0590. Clearer hints on the direction will be shown on the decision regarding the interest rate and on the tomorrow’s data on unemployment rate and nonfarm payrolls.
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