Forex
Euro Stuck in September Range Ahead of Crucial Fed Decision
The EUR/USD pair remains within a well-defined monthly range, just above key support levels. Despite this week's ECB rate hike and hawkish guidance from President Lagarde, the Euro has struggled to build on its rebound from the July low.
Recent price action reflects a lack of conviction on either side, leaving the market searching for a fresh directional catalyst. Next week's FOMC decision will be critical in shaping the broader outlook into the second half of September.
The 52-week and 200-day moving averages converge just overhead at around 1.1629/33, highlighting the first major technical hurdle for the Euro. A break above this threshold would invalidate the yearly downtrend and threaten the next leg higher in price.