Last week, the euro declined against dollar and was set for a weekly loss after the U.S. Federal Reserve’s hawkish message on monetary policy lifted the dollar higher. The Fed’s unexpected turn on Wednesday revived the dollar, diminishing the attraction of other major currencies.
The euro was last trading around $ 1.1862, down 0.36% against the dollar, and was 1.6% on track for its worst week since October. Immediate resistance can be seen at 1.1928 (38.2%fib), an upside break can trigger rise towards 1.1956 (50%fib).
On the downside, immediate support is seen at 1.1843(23.6%fib), a break below could take the pair towards 1.1800
So, the EURUSD is expected to continue trading sideways to bearish as volumes and volatility continue to slow ahead of the summer holidays but.
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