The EUR/USD is in a holding pattern above 1.16. Fed minutes to show policymakers discussed interest rate ceilings, the impact of a trade war, inflation and flattening yield curve. The USD will likely pick up strong bid if minutes reveal scope for an upward revision of neutral rate. The EUR/USD sits well above 1.16, having built a nice basing pattern around 1.15 in the last few weeks and could gain altitude if the Fed minutes, due today, take some wind out of the hawkish June policy statement. The US central bank hiked rates by 25 basis points in June, escalated the pace of rate hikes and kept the neutral rate unchanged at 2.9 percent. The USD could pick up a strong bid if the minutes reveal a discussion on the higher neutral rate. Meanwhile, the USD may take a beating if the minutes show a higher degree of inflation tolerance. Further, the minutes are also expected to show a debate the policymakers discussed the impact of a trade war on the US economy, a stronger dollar and a flattening yield curve. Note that the probability of an ECB rate hike in September  2019 has reportedly jumped to 80% from 69%. So, the EUR/USD could rise sharply if the Fed minutes put more stress on topics like trade war, flattening yield curve and show a higher tolerance for inflation. EUR/USD Technical Levels Resistance: 1.1690 (July 2 high), 1.1751 (downward sloping 50-day moving average), 1.1852 (June 14 high). Support: 1.1642 (10-day MA), 1.1508 (June 21 low), 1.1448 (50% Fib R of Jan 2017 low – Feb 2018 high).  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD: Funding stress is more structural – TDS FX Street 4 years The EUR/USD is in a holding pattern above 1.16. Fed minutes to show policymakers discussed interest rate ceilings, the impact of a trade war, inflation and flattening yield curve. The USD will likely pick up strong bid if minutes reveal scope for an upward revision of neutral rate. The EUR/USD sits well above 1.16, having built a nice basing pattern around 1.15 in the last few weeks and could gain altitude if the Fed minutes, due today, take some wind out of the hawkish June policy statement. The US central bank hiked rates by 25 basis points in June, escalated… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.