The EUR/USD price remained positive throughout the week until the FOMC meeting revealed a persistent rate hike policy. The US dollar picked strength across the board. Now the focus has turned o Core PCE index data due on Thursday.
Technically, the EUR/USD pair remains strongly bullish. However, the price started correcting lower. The probability of testing the 20-day SMA around 1.0475 is quite high. Though the bullish crossover of 20-day and 200-day SMAs point to further gains.
Key levels to watch
Support 1: 1.0500
Support 2: 1.0475
Support 3: 1.0400
Resistance 1: 1.0650
Resistance 2: 1.0700
Resistance 3: 1.0750
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