Play of the Day: EUR/USD’s Short-Term Resistance Area

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Play of the Day: EUR/USD’s Short-Term Resistance Area

EUR/USD took a breather from its days-long downtrend earlier this week. And that’s despite the U.S. dollar gaining ground against its other counterparts!

In case you missed it, USD gained pips as traders started the year by tempering their Fed interest rate cut bets.

The FOMC meeting minutes released in the last U.S. session didn’t hurt the Greenback either, as it failed to give us details on the Fed’s rate cut schedule. This encouraged “higher for longer” speculations and extended USD’s intraweek upswings.

Not for EUR/USD though!

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The post Play of the Day: EUR/USD’s Short-Term Resistance Area first appeared on Investorempires.com.

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