EUR/USD Price Analysis: Range bound within 1.0100-1.0260 since July 22 – by christianborjon EURUSD Majors Technical Analysis PivotPoints SupportResistance
a. In June, the Personal Consumption Expenditures rose by 6.8% YoY, fueling expectations of additional Federal Reserve rate hikes, despite the market's pricing in only 80 bps of tightening.neutral-to-downward biased, helped by the 20-day EMA lying below the exchange rate at 1.0167. Nevertheless, the EUR/USD, unable to capitalize on an upbeat market mood, and broad US dollar weakness, keeps the shared currency exposed to further selling pressure.
Therefore, the EUR/USD first resistance would be the R1 daily pivot at 1.0250. Once cleared, the next resistance would be 1.0278, followed by 1.0300. On the flip side, the EUR/USD first support would be the 20-hour EMA at 1.0206. Break below will expose the confluence of the 200 and 50-hours EMAs at around 1.0192-94, followed by the 100-hour EMA at 1.0179.
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