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EUR/USD consolidating around year lows ahead of Fed Minutes - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD fell to 1.3274 on Wednesday and is now consolidating around its year lows ahead of the publication of minutes from the last Fed monetary policy meeting.

Key quotes

"Technically the hourly chart shows 20 SMA with a strong bearish slope above current price, albeit indicators are slightly exhausted in oversold levels."

"Nevertheless, price seems to have no aims of correcting higher, while indicators in the 4 hours chart maintain a strong bearish momentum that support a continued decline."

EUR/USD remains capped below 1.3300

The EUR/USD is trimming a slight part of today’s losses, having bounced from a fresh 11-month low at the beginning of the New York session.
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EUR/USD: Bearish pressure on the market - ForexTrading.TV

Petar Jacimovic, currency analyst at ForexTrading.TV, says that EUR/USD is experiencing bearish pressure on the market today.
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