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The dollar was trading higher against most of its major rivals on Tuesday as traders eye the Fed’s rate statement and press conference on Wednesday amid uncertainty over the bank’s next move. Official data released Tuesday was mixed and largely ignored by traders who are more concerned by what the Fed has to say. U.S. [...]
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The FOMC could make like harder for EURUSD above 1.34 The EUR has been one of the top three performers versus the dollar in the G10 over the last month. It has traded in an uptrend ever since Fed chairman Ben Bernanke announced that the Fed could taper asset purchases during his testimony to Congress [...]
Prices declined as expected after putting in a Bearish Engulfing candlestick pattern. The pair is now showing an Inverted Hammer candle above support at 93.88, the 76.4%Fibonacciretracement, hinting a bounce may be ahead. Initial resistance is at 95.76, the 61.8% level, with a break back above that eyeing trend line support-turned-resistance at 96.21.Alternatively, a reversal beneath support exposes swing lows at 92.56 and 90.84.