FXStreet (Mumbai) – The EUR/USD pair is trading quietly around 1.12 handle in Asia today, after having suffered almost 1% loss in the previous session to close below its 200-DMA.
Fed policymakers talk up the US dollar
The Greenback strengthened across the board on Monday and remained on a strong footing in Asia as investors once again gear up for the probability of the rate hike next month. Over the weekend, San Francisco Fed president John Williams emphasized that the FOMC’s decision to leave rates unchanged for a 55th consecutive meeting was a “close call”.
Meanwhile, James Bullard also reiterated his call for a rate hike. Being a a non-voting member of the committee, he said that he would have dissented if he had a vote last week.
Ahead in the day the spot could be influenced by the sentiment in the stock markets and by reports on Eurozone economic sentiment and consumer confidence for September.
EUR/USD Technical Levels
At 1.1198, the immediate resistance is seen at 1.1211 (200-DMA), above which the pair could re-test 1.1280 (10-DMA). On the other side, support is seen at 1.1181 (Monday’s low) and 1.1148 (100-DMA).
(Market News Provided by FXstreet)