Fed officials stress their dedication to attaining the 2% inflation target, expressing that several believe additional measures to restrict monetary policy may be necessary.
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- Fed officials emphasize commitment to achieving the 2% inflation objective, with many seeing the need for further tightening.
The pair currently trades last at 1.08961.
The previous day high was 1.0952 while the previous day low was 1.0897. The daily 38.2% Fib levels comes at 1.0931, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0918, expected to provide resistance.
EUR/USD dropped below 1.0900 for the second straight day, as the latest Federal Reserve (Fed) monetary policy minutes began to show policymakers are split between overtightening while others prioritize the fight against inflation. The EUR/USD trades volatile, between the daily low of 1.0870s and the 1.0900 figure.
The minutes showed that all the Fed officials remain “resolute in their commitment to bring inflation down to the …2% objective,” with most participants estimating that upside risks on inflation would require additional tightening.
Nevertheless, the Fed board began to show a split stance regarding monetary policy as a “couple” of participants wanted rates to be left unchanged, with one of the members, Atlanta’s Fed President Raphael Bostic, having remained vocal about holding rates unchanged.
The minutes showed that even though the economy’s remained resilient, downside risks to economic activity are lingering, and upside risks to the unemployment rate.
Federal Reserve officials agreed that future rate decisions would depend on the “totality” of incoming data while taking a more cautious approach in the coming months.
The EUR/USD dropped below the 1.0900 figure, extending its losses below the 1.0880 area, a level last seen on August 14, slightly below the S1 pivot, which acted as support, as the EUR/USD sits at around the 1.0880s area.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0883 at the time of writing. Pair opened at 1.0907 and is trading with a change of -0.22 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0883 |
| 1 | Today Daily Change | -0.0024 |
| 2 | Today Daily Change % | -0.2200 |
| 3 | Today daily open | 1.0907 |
The pair is trading below its 20 Daily moving average @ 1.101, below its 50 Daily moving average @ 1.097 , below its 100 Daily moving average @ 1.0931 and above its 200 Daily moving average @ 1.0781
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.1010 |
| 1 | Daily SMA50 | 1.0970 |
| 2 | Daily SMA100 | 1.0931 |
| 3 | Daily SMA200 | 1.0781 |
The previous day high was 1.0952 while the previous day low was 1.0897. The daily 38.2% Fib levels comes at 1.0931, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0918, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0885, 1.0864, 1.083
- Pivot resistance is noted at 1.094, 1.0974, 1.0996
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0952 |
| Previous Daily Low | 1.0897 |
| Previous Weekly High | 1.1065 |
| Previous Weekly Low | 1.0929 |
| Previous Monthly High | 1.1276 |
| Previous Monthly Low | 1.0834 |
| Daily Fibonacci 38.2% | 1.0931 |
| Daily Fibonacci 61.8% | 1.0918 |
| Daily Pivot Point S1 | 1.0885 |
| Daily Pivot Point S2 | 1.0864 |
| Daily Pivot Point S3 | 1.0830 |
| Daily Pivot Point R1 | 1.0940 |
| Daily Pivot Point R2 | 1.0974 |
| Daily Pivot Point R3 | 1.0996 |
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