EUR/USD triggers a corrective slope.

EUR/USD

EUR/USD triggers a corrective slope after reaching multi-session highs around 1.0050 on Tuesday.

EUR/USD seems to have embarked on a consolidative range ahead of the important FOMC event on Wednesday.

The interim 55-day SMA at 1.0097 followed the upside ahead of the key 7-month resistance line, nearing 1.0150 today.

A drive beyond the latter is needed to reduce the depreciation pressure and permit the spot to confront the September high at 1.0197 ahead of potential extra gains.

The EUR/USD bearish view should triumph after a while as long as it trades below the 200-day SMA at 1.0716.

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