The EurUsd is still consolidating ahead of the FOMC meeting. It is currently being traded around its EMAs, around the bottom of the channel, since it doesn't have the volume patterns of a flag. Breaking out the bottom of the channel will send it seeking 1.07836, with 1.08320 as a primary objective.
The breakout of the top of the channel, should the parity rallies there, will send it seeking 1.12449, with 1.11590 as a primary objective.
An increase in the Fed interest rate will weaken the Euro.
The daily Pivot Point is around 1.09628. The daily support levels are around 1.08090 and 1.07134. The daily resistance levels are around 1.10210 and 1.11166.
The breakout of the top of the channel, should the parity rallies there, will send it seeking 1.12449, with 1.11590 as a primary objective.
An increase in the Fed interest rate will weaken the Euro.
The daily Pivot Point is around 1.09628. The daily support levels are around 1.08090 and 1.07134. The daily resistance levels are around 1.10210 and 1.11166.
