EUR/USD (a 4-hour chart)
There is still a degree of mild optimism that the Fed will hike the rate this year, which supported the dollar. Investors evaluate the chance of the rate hike by 42%.
A daily chart shows that the pair is in the range between the marks 1.1000 and 1.1170. The euro remained within the middle-term descending channel in the 4 hours chart. The instrument found a very solid support around 1.1000 (a strong psychological level). The resistance is seen at 1.1130, the support lies at 1.1050.
MACD is in the negative area. The histogram decreased which indicates the sellers’ strength. RSI bounced from the oversold area, its signal line grew that indicates buyers’ growing strength.
The price is close to the 50-EMA which acts as a resistance. The moving averages (50, 100 and 200) are moving downwards which is a sell signal.
Shall the pair break the support 1.1000 the instrument EUR/USD will decrease to 1.0900. A break above 1.1130 could lead to a growth towards 1.1200.