The daily EUR/USD daily chart above trades within a developing rising wedge/bear flag pattern (black) that may hint at subsequent downside should price breach wedge/flag support. Bulls were unable to push above the 50-day moving average (yellow) and the upcoming Fed catalyst could spark a pattern breakout. The Relative Strength Index (RSI) currently hovers around its midpoint zone thus indicating no preference for bullish nor bearish momentum (hesitancy).
Resistance levels:
1.0635/50-day MA
1.0600
Support levels:
1.0500
1.0443
1.0300
Resistance levels:
1.0635/50-day MA
1.0600
Support levels:
1.0500
1.0443
1.0300
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