Analysts at TD Securities are closely watching the 1.1380/85 level as is set to mark the direction of the EUR/USD pair which is currently trading just below this point at 1.3773.
See: Dovish Fed signal, EUR/USD at 1.15 short-term – Danske Bank
Key quotes
“We look to 1.1380/85 in EUR/USD to provide a pivot for near-term directionality for the USD. Failure to hold above would lend credence to temporarily pare back longs.”
“1.1240/50 will be the next major area of support. Below this, 1.1180 and 1.1020 (~200dma) should act as major reassessment points.”
“Meanwhile, 1.15 is the next major attractor to the topside.”
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