Chapter 15 EURUSD pass the price at 1.00000
fundamental analysis
The euro rose against the dollar on Wednesday to a six-week high amid a sharp decline in the dollar, as speculation that the Federal Reserve will slow the pace of interest rate hikes later this year amid mounting evidence of a sharp economic slowdown drove traders away from the dollar.
technical analysis
On the 4-hour candlestick chart, the EUR/USD currency pair is facing the resistance area at 1.0051. levels
If the resistance area holds, the price is likely to decline towards the support levels at 0.9862, 0.9703, and 0.9633.
On the flip side, a possible breakout of the resistance zone may lead the price higher towards the next resistance levels at 1.0196 and 1.0373
