Today at 19:00 GMT we’ll have the FOMC minutes, which are from November’s meeting, where the central bank decided to keep unchanged interest rates, before the US elections. Traders will be looking for further hints about a possible rate hike in December’s meeting, as current Fed’s rhetoric remains unchanged: the case for raise rates has continued “to strengthen”. No major surprises are expected, but we’ll be aware of how market’s volatility will act after the release.
Our technical outlook for EUR/USD at H1 chart is sideways in a short-term, but if we check the overall picture, the pair is still weak across the board, with a price action consolidated below the 200 SMA. If we see a slump below the 1.0572 price zone, then further weakness toward the 1.0488 area is highly expected, while a rebound at current levels should take EUR/USD to test the 1.0735 level.
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Origin: FX BAZOOKA
