The EURUSD resumes the decline – Analysis - 21-09-2022

The EURUSD pair couldn’t manage to hold for long time above 1.0020, to trade with clear negativity yesterday and resume the bearish track, on its way to achieve more expected decline in the upcoming period, especially that we are waiting for the FOMC rate decision tonight, which is expected to raise the rate by 0.75%, noting that our next main targets are located at 0.9900 followed by 0.9850.

Therefore, we expect the continuation of the bearish bias on the intraday basis supported by the negative pressure formed by the EMA50, noting that holding below 1.0020 is important to achieve the suggested targets.

The expected trading range for today is between 0.9870 support and 1.0020 resistance.

The expected trend for today: Bearish