EUR/USD Technical Analysis (2015.12.03)

EUR/USD Technical Analysis (2015.12.03)

The EUR/USD pair fell during the day on Wednesday, as we continue to bang around the bottom. The 1.05 level below is supportive though, so we think the market will struggle to get below there between now and the all-important interest-rate decision and more importantly the interest rate statement later today. That statement could be the catalyst to break down though, especially if more stimulus is added. Any rally at this point time should be a selling opportunity, as the market sees quite a bit of choppiness above and with this being the case there is no thoughts of buying.

EUR/USD Chart

Source:FXEMPIRE