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  • EUR/USD is confined in a small range above the 1.1146 level.
  • Immediate support is seen at the 1.1130 and 1.1117 level.

EUR/USD daily chart

EUR/USD trading is in a bear trend below its main daily simple moving averages (DSMAs). In the last six days, Fiber has been consolidating near multi-month lows. The market is most likely waiting for the FOMC decision at 18:00 GMT. The event can lead to high volatility in USD-related currency pairs. The market is widely expecting  a 25bps cut from the Federal Reserve.

EUR/USD 4-hour chart

EUR/USD is currently supported above the 1.1146 support as the market is trading in a small range. Buyers want to reach 1.1178 and 1.1200 figure to the upside, however, Fiber is still trading below its major SMAs, suggesting a bearish bias in the medium term.  

EUR/USD 30-minute chart

EUR/USD is trading above the main SMAs, suggesting bullish momentum in the short term. Immediate support is located at 1.1146, 1.1130 and 1.1117, according to the Technical Confluences Indicator.

Additional key levels