As I have mentioned in my previous articles, growing rate hike expectations and hawkish statements from FED members is putting EURUSD under bearish pressure. This time, it was the turn of Dallas Fed President Robert Kaplan, who said that he was expecting the Fed to hike rates three more times and warned over a potential overheating of the economy, adopting a more hawkish tone.
EURUSD Forecast And Technical Analysis
Daily Chart: RSI is in the neutral zone. The pair is being traded at 1.19510 currently. It is in the upper channel of the Bollinger Bands. 1.19600 is the major resistance and the bearish pressure will remain as long as the price remains below 1.19600.