EURUSD hits some old resistance up near 1.20

1.1980/85 has been resistance on approaches to 1.20, and showed up again a day after the failure to hold above 1.20. We’re and hour and a half from the announcement it looks like this is the pre-announcement line in the sand for now.

EURUSD daily chart

Dips are likely to be limited to around 1.1950 but don;t rule out some last minute positioning into the announcement that could throw up some sharp swings.

 

Ryan Littlestone
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