EUR/USD declines by five hundredths of a percent into the mid 1.0800s on Tuesday, before the big event of the week in Forex, the Federal Reserve’s (Fed) March meeting policy announcement.
EUR/USD descends into mid 1.0800s ahead of Wednesday’s key Fed meeting. Speculation is mounting that the Fed could alter how many interest rate cuts it expects to make in 2024. ECB Vice-President De Guindos sees services inflation still too high for a rate cut. EUR/USD declines by five hundredths of a percent into the mid 1.0800s on Tuesday, before the big event of the week in Forex, the Federal Reserve’s March meeting policy announcement.
Euro versus US Dollar: 4-hour chart A new series of declining peaks and troughs has begun since the March 8 highs. Subject to fundamentals, the price will probably continue to fall to the next key support level at roughly 1.0800 – the lows of wave B of the Measured Move that unfolded in February and early March.
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