The pair is expected to gradually increase till 1.1000/1.10600 ins short term. Minor support is around 1.0880 and weakness can be seen below that level.
Any break below 1.0880 will drag the pair till 1.0830/1.0780.
On the higher side resistance is around 1.0970 and any indicative break above will take the pair till 1.100/1.10600/1.1100.
Overall invalidation only above 1.1100.
It is good to buy at dips around 1.0903-35 with SL around 1.0870 for the TP of 1.106/1.1100
Last week there was the establishment of a double peak at 1,1030-41, which from a technical point of view should support the supply side. In the first part of the week (the Fed), the eurodollar rate should head south toward support at 1.0930 and 1.09. If you happen to break the 1.09 level of supply will head towards support levels at levels 1,0795-1,0810.
On Wednesday, investors will focus on the communication of the Fed meeting, which does not necessarily imply the fast pace of monetary policy tightening in 2016, which could disappoint markets. The Fed certainly will take into account external stimuli and the possible consequences, which may suggest that further rate hikes will be flat and elongated over time. Therefore, we may be witnessing strong growth. in the direction of the last maxima at 1,1030-41. Further demand could lead to wywindowania course around the resistance level of 1.1140 (peak of 23 October).