EUR/USD Technical Analysis: Rangebound trade expected ahead of FOMC

FX Street

Updated: 29 Jul. 2019 | 10:17

EUR/USD tested fresh yearly lows in the 1.1100 area last week, although sellers failed to drag it further south.
A drop below the 1.1100 area still remains on the cards in the near term despite some consolidation is favoured ahead of the key FOMC event later in the week.
In the meantime, the offered tone in the pair should prevail below the 55-day SMA, today at 1.1234. Immediate to the upside lies the area of recent peaks in the 1.1280/90 band.

EUR/USD daily chart

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