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According to him, the Fed will change the rate when such a move is justified by macroeconomic indicators.
Next on focus is US labor market data that will be released tomorrow. EUR/USD is testing the support located at 1.43. If the pair overcome it, will move downwards to 1.14, heading to 1.1370.
Next on focus is US labor market data that will be released tomorrow. EUR/USD is testing the support located at 1.43. If the pair overcome it, will move downwards to 1.14, heading to 1.1370.
On Thursday session the euro marked a decline against the US dollar. The session started at 1.1485 and the price managed to break through the first support at 1.1450. The pair lost 81 pips to a closing price of 1.1404. If the euro keep its downward movement, we may expect an attempt to break of the first support at 1.1286.
Yesterday EURUSD fell with a wide range and closed near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.
The pair closed below the 10-day moving average that should now act as a dynamic resistance although is still trading above the 50 and the 200-day moving averages that act as a dynamic support.
The key levels to watch are: Last swing high at 1.1616, a daily resistance at 1.1556, other daily resistance at 1.1459, the previous swing high at 1.1398 (support) and the 50-day moving average at 1.1298 (support).