Euro is under pressure but rises back above 1.1300 EUR EURUSD $EUR $EURUSD
came in at 55, below the 56.7 expected, while the Service PMI dropped to 50.8 against estimates of a modest slide to 56.9. on Tuesday, the Federal Reserve kicks off its two-day meeting.In the short-term the bias is skewed to the downside. Technical indicators offer no clear signs. The EUR/SDU pair continues to move sideways looking vulnerable.
On the upside, the 1.1350 area continues to limit nay move higher. The mentioned area is reinforced with the 20-day simple moving average. A break higher should strengthen euro’s outlook particularly if the also recovers 1.1380.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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