EUR/USD (a 4-hour chart)
The euro weakened on the back of stronger dollar. The dollar was strong ahead of FOMC minutes. Besides, the possible rate hike by the Fed supports the
The euro continued to lose its value on Wednesday. The price slightly recovered and tested the level 1.0650 in the Asian session. The downward pressure increased ahead of the
The MACD histogram decreased which indicates the sellers’ strength. RSI advanced south which confirms the current downward movement.
Bears will remain in the driver's seat until the level 1.0650 holds. The level 1.0550 we see as the next intraday support and probable bearish target. Conversely, a break above 1.0650 will trigger the next leg of upward move for the pair.