$EURUSD Forecast: Euro looks vulnerable ahead of Fed rate decision by eren_fxstreet forex trading
The Relative Strength Index indicator on the four-hour chart dropped below 50, pointing to a bearish tilt in the short-term. Additionally, EUR/USD now stays below the 100-period SMA on the same chart, confirming the view that buyers stay on the sidelines.
Strong resistance seems to have formed at 1.0150, where the Fibonacci 23.6% retracement level of the latest downtrend and the 100-period SMA is located. If that level turns into support, buyers could target 1.0200 and 1.0230 . If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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