- EUR / USD made slight gains in the 1.1580 / 90 band awaiting the FOMC but then lost momentum.
- A drop to the yearly low at 1.1524 remains on the table.
The EUR/USD It partially recovered the ground lost after Tuesday’s daily decline, rising to a daily maximum of 1.1597, although in the last hour it has fallen towards 1.1577, very close to the minimum of 1.1575.
As long as the pair continues to trade below the recent highs near 1.1600, a downside move should not be ruled out. In this regard, the EUR / USD faces the next support at the weekly low at 1.1535 (Oct 29) before attempting another possible visit to the 2021 low at 1.1524 (Oct 12).
Meanwhile, the short-term outlook for the EUR / USD is on the downside below the key 200-day SMA, today at 1.1895.
Daily EUR / USD chart
Technical Levels
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