EUR/USD Holds Near Recent Lows as Traders Await Fed Decision

The EUR/USD pair is struggling to find direction on Tuesday as traders wait for the Federal Reserve's interest rate decision on Wednesday.

The pair currently trades around 1.1370, having hit an intraday low of 1.1353 - its lowest level since June 26.

The Fed is widely expected to keep the federal funds rate unchanged at 3.50%-3.75%, but traders see a small chance of a rate hike due to elevated oil prices and inflation risks.

The US Dollar stays well-supported by prospects of higher US interest rates, while lingering geopolitical risks provide additional support.