It’s been a quiet session for the EURUSD pair so far. Price is proceeding to sit under the 1.1400 handle. All things considered, the price seen in the range from 1.1380-00 in a previous couple of hours.

Buyers are looking for a firm break over the 1.1400 handle with minor resistance observed around 1.1425. The bias and momentum keep on sitting to support them yet markets might just be in a cautious mode in front of the Trump-Xi meeting.

Focus will be on Powell’s speech later on today.

Our preference:

Below 1.1387 look for further downside with 1.1372 & 1.1357 as targets.

Long positions above 1.1413 with targets @ 1.1428 & 1.1443.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.