US Dollar Strengthens Ahead of Fed Decision, Key Levels in Focus
Wednesday, 20 March 2024, 09:17
US Dollar Holds Steady Ahead of Fed Meeting
The US dollar continues to maintain its strength this week, driven by higher Treasury yields and a rise in USD/JPY.
EUR/USD Faces Pressure Near Key Technical Levels
The EUR/USD pair is down 0.3% to 1.0840 levels, testing its 200-day moving average which will be crucial post-Fed meeting.
- Key Level: Break below the 200-day moving average could signal further downside towards 1.0800 mark.
- Technical Outlook: Maintaining above the blue line could attract buyers and reverse recent losses.
Other currency pairs like GBP/USD, USD/CAD, and AUD/USD show varied reactions to economic data and central bank actions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.