Forex
EUR/USD Falls Below 1.1350 as US Federal Reserve's Hawkish Outlook Continues
The EUR/USD pair has been struggling to break above the 1.1400 mark as it faces downside pressure from the US Federal Reserve's hawkish outlook and oil-driven inflation fears.
The pair filled a bearish gap last week, but failed to regain bullish momentum, remaining close to its lowest level since July 28 at around 1.1350.
Despite persistent geopolitical uncertainties stemming from the US-Iran standoff, the safe-haven buck has been gaining strength, underpinning the negative outlook for the EUR/USD pair.
From a technical perspective, spot prices are below the 200-day Exponential Moving Average (EMA) and the Moving Average Convergence Divergence (MACD) indicator is below zero with a negative histogram, reinforcing downside pressure.