Technical Analysis – EURUSD July 10 – Dollar weakness ahead of Fed
July 10, 2013 2:36 pm
The dollar is expected to remain broadly weaker in the buildup to the U.S. Federal Reserve policy meeting minutes due later in the U.S. session on Wednesday. This will give the EURUSD a bounce but resistance is expected to cap the pair at $ 1.2845. Support lies at yesterday’s low of $1.2754.
On the hourly chart MACD remains in bearish territory below zero. RSI is turning up and is above 50, but not oversold yet. Prices just broke above the 20 hour moving average.
The dollar is expected to remain broadly weaker in the buildup to the U.S. Federal Reserve policy meeting minutes due later in the U.S. session on Wednesday. This will give the EURUSD a bounce but resistance is expected to cap the pair at $ 1.2845. Support lies at yesterday’s low of $1.2754.
On the hourly chart MACD remains in bearish territory below zero. RSI is turning up and is above 50, but not oversold yet. Prices just broke above the 20 hour moving average.
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