Since a week EURUSD continues downward movement. Yesterday better than forecasted macro data were published – the US Producer Price Index. The second macro data was FOMC minutes. Investors didn’t see nothing new in FOMC protocol and it was confirmed by lack of volatility at EUR/USD. Officials stressed timing of hikes would depend on data.
EURUSD tested support at 1.1100 and for the third day in a row it moves below 1.1180 – 1.1100. It is likely that rebound may occur, follow by movement towards 1.1380. However if supply breaks above 1.1100 level declines will continue to 1.1020 and then to 1.0930.
Time-frame H1: