- EUR/USD consolidates last week’s losses below the 1.1240 level.
- The level to beat for bears is the 1.1056 support.
- The Fed slashes interest rates to near zero in an emergency move.
EUR/USD daily chart
EUR/USD is consolidating last week’s decline while trading just above the main SMAs. DXY (US dollar index) remains supported despite the 100bps rate cut by the Fed.
EUR/USD four-hour chart
Resistance: 1.1160, 1.1240, 1.1288
Support: 1.1120, 1.1056, 1.0910
Additional key levels