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EUR/USD gains after FOMC minutes
EUR/USD managed to regain lost ground yesterday, following a dovish set of FOMC minutes which provided a drag upon the dollar across the board. We are looking for a reversal from these areas, given the fact that the recent rally looks like a retracement of the referendum downturn.
Thus, while yesterday didn’t help the cause we are still looking for signs of a bearish reversal. Currently EUR/USD is facing trendline resistance, which has the potential to push the pair lower. While a bearish view is in play, it makes sense to await a break and hourly close back below $1.1241 to provide confirmation.