The Fed's comments made the US dollar stronger. The US data and the job market look pretty strong that adds fuel to the USD index to breach above $85. The weekly job claims climbed to 12k, very optimistic data for the Fed to hike interest rates sooner than expected. The EUR/USD pair drifted to 1.2698 and hit the monthly 61.8 fib level and 200MEma. If the pair closes below 200MEma, it will extend its fall to 1.2435 and 1.22 (200MSma) in the medium term. The pair has monthly resistance at 1.3410.
For an intraday view, the prices are closed below 12ema and 35DEMA. The prices made a small base at 1.2725 on an hourly basis in the h4 chart. In the Pacific session the pair is trading at 1.2758 facing resistance at 1.2775 (12ema) levels. Above 1.2775 it can fly up to 1.2790, 1.28 and 1.2830. We can see strong upmove only above 1.2830. The trading range is framed between 1.2835-1.2725; a breakout either side will open some more room to trade. We still recommend selling on an up move.
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