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EUR/USD slips for second day as US Fed hike bets revive

Spot EUR/USD is around 1.1435, with near-term resistance at the 200-period 4-hour SMA near 1.1477.

Reported · Written up by our desk · Major Pairs

EUR/USD is moving lower for a second straight day, trading around 1.1435, after stalling near the 200-period simple moving average on the 4-hour chart, according to FXStreet.

The pullback is linked to revived US Federal Reserve rate hike expectations tied to energy-driven inflation fears, which are also helping support the US dollar, the outlet said.

FXStreet cited technical signals including a neutral RSI near 50 and a slightly negative MACD, suggesting bullish momentum may remain limited unless price can regain levels above the 200-period SMA.

On the downside, the article points to Fibonacci-based support near 1.1330, while resistance sits at the 200-period SMA around 1.1477, followed by higher Fibonacci hurdles at 1.1508, 1.1563, and 1.1618 if upside pressure builds.

Latest closeEUR/USD 1.156 ▲0.4%

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