The final 16 hours of the week and the month. After rising for six straight months, the EURUSD looks set to end September lower, barring an unexpectedly sharp rally at the end of this week.
Part of the reason for its sluggish performance can be explained away by a rebounding US dollar, which has recently found support on renewed hawkishness from the Federal Reserve. From the eurozone, political uncertainty and disappointment that the European Central Bank has so far refused to taper QE despite an improving eurozone economy has also weighed on the euro. The ECB has also recently attempted to talk down the single currency, which has arguably worked so far.
EURUSD Technical Analysis