EURUSD Chart Technical Outlook corrects lower on hawkish Fed, dips can find buyers at 1.0770
EUR/USD develops an extended corrective structure. Prices bounced higher earlier this week, and there is room for a corrective pullback on the hawkish FOMC meeting. A downside barrier is located at 1.0770, an overlap of 61.8% Fib retracement level and a previously broken resistance-turned-support. Resistance is seen at the previous day’s high of 1.0850.
Investors eye today’s Initial Jobless Claims to follow on the labor market and the PPI data to follow on inflation.
