EURUSD Chart Technical Outlook prints a downside three-wave corrective structure, wave Y is now in play.
Prices are consolidating within a narrow range. EUR/USD needs a break above 1.0870 to confirm the completion of the corrective leg and resume the broadly bullish bias.
Despite the dovish outcome from yesterday’s FOMC meeting, another push lower in the pair can’t be ruled out. A dip – if any – can find buyers.
Supports are located at 1.0800-1.0775. Resistances are seen at 1.0840-1.0850.
