On the last Fed’s meeting minutes US dollar rallied. There are many headlines that continues to weigh on the US dollar. One of the headlines is connected to the guilty plea of Trump’s former lawyer Cohen weighs on the presidency, as he implicates president Trump in crime activities. Currently the president Trump lashed out on his former lawyer. Also, in future we could see the US dollar weakening.
EUR/USD dropped yesterday and today is breaking the upward trend-line (during Asian session), aiming for the 1.1537 support line. On one side, we could see its price action aiming for the 1.1623 resistance line. On the other side, we could see it breaking the 1.1537 support line and aim for the 1.1482 support barrier.
The US dollar continued to fall. You should pay attention to the fact that the insignificant political instability of the US with the former collaborators of President Trump who faced judicial problems did not help the American banker. FOMC meeting can be the next milestones in the dollar’s situation. If there was a positive signal from the negotiations on improving trade relations between the US and China, the USD could further weaken.
EUR/USD increased resistance level 1.1537. The pair has even increased rapidly the growth trend,. The couple may prove to be vulnerable to the release of the FOMC meeting. We could break the resistance level 1.1623 and target the 1.1675 barrier of resistance. And on the other side, we could see that they interrupt the level of support 1.1537 and target the obstacle to support 1.1482.
The US dollar weakened even more from the past headlines. Donald Trump said that ump stated in an interview that he is not thrilled with the Fed hiking rates. He also said that Fed should do more to help him boost the economy. Europe and China of manipulating their own currencies – accused by Trump. We could expect for US dollar weakened even more in future, if we get some highlights.
EUR/USD rallied yesterday and during Asian session, breaking the 1.1482 resistance line and testing the 1.1537 resistance level. We could see the pair breaking the 1.1537 resistance line and aim for the 1.1623 resistance level. On the other side, we could see the pair breaking the 1.1482 support line.