The U.S. Dollar Index has recently made an attempt to settle below the 93 level but returned back to the 20 EMA at 93.10. Today, the U.S. Fed will announce its Interest Rate Decision. The interest rate is expected to stay unchanged, and traders will focus on Fed’s commentary.
EUR/USD failed to get above the resistance at 1.1910 but managed to stay above the 20 EMA at 1.1840. In case EUR/USD declined below the support at 1.1840, it will gain more downside momentum and head towards the next material support level at the recent lows at 1.1765.
The support at 1.1765 is set to be strong as the 50 EMA has already risen to 1.1750. A move below the 50 EMA will signal that EUR/USD is ready to establish a new downside trend.
EUR/USD failed to get above the resistance at 1.1910 but managed to stay above the 20 EMA at 1.1840. In case EUR/USD declined below the support at 1.1840, it will gain more downside momentum and head towards the next material support level at the recent lows at 1.1765.
The support at 1.1765 is set to be strong as the 50 EMA has already risen to 1.1750. A move below the 50 EMA will signal that EUR/USD is ready to establish a new downside trend.