EUR/USD - Dollar Bulls Unwind
EUR/USD is pushing slightly higher ahead of the Fed meeting. Yet, hourly resistance is far away given at 1.0874 (08/12/2016 high). Support can be found at 1.0506 (05/12/2016 low). Buying pressures seem nonetheless stronger around 1.0600. Expected to keep pushing slightly higher.
In the longer term, the death cross indicates a further bearish bias despite the pair has increased since last December. Key resistance holds at 1.1714 (24/08/2015 high). Strong support given at 1.0458 (16/03/2015 low) is on target.