Colombian journalist and Forex's technical and fundamental analyst since 2010. His articles has been featured in several media outlets.

EUR/USD after FOMC Minutes: Targeting to levels below 1.10?

Yesterday, FOMC minutes didn't offer major headlines of interest for market traders, as it reflected what everyone knew in some degree: a “wait-and-see” mode from officials after the Brexit referendum's outcome and there are no key comments about current situation of US economy. However, what could bring us more info about it, will be the US NFP this friday, but before that, let's see how the EUR/USD will trade.

In a technical overview at H4 chart, EUR/USD found strong resistance from the 50% Fibonacci retracement level projected from the “Brexit” decline. Currently, it's being supported by the 1.1031, after ECB President Mario Draghi's commentaries. A breakout below will give a fresh bearish momentum to test the 1.0909, which is the low after Brexit. In a bullish scenario, in case that the Greenback gets week this friday after NFP release, pair can look for a consolidation above the 200 SMA.

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