EUR/USD exchange rate at 1.1200 resistance amid German inflation data and Fed Chair Powell's speech.
The EUR/USD exchange rate remains in a range as traders await German inflation data and Fed Chair Jerome Powell's speech. The pair is struggling to surpass the 1.1200 resistance level, forming a bearish double-top pattern. Support is noted at 1.1125-1.1120, with potential declines towards 1.1085-1.1080. Conversely, a breakout above 1.1200 could propel the pair to 1.1275 or higher. Traders are advised to wait for confirmation before acting.
September 30, 2024
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