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EUR/USD Struggles for Bids

The US dollar keeps advancing thanks to the Fed policy momentum. The latest rally came to a halt at the parity level, a sign that the bears were eager to sell into strength. A fall below 0.9790 further weighs on the mood as buyers rush to the exit. 0.9650 is the next support as the RSI inches into the oversold area. The bulls will need to clear the fresh supply zone around 0.9790 before a rebound could materialise. Otherwise, its breach would indicate a lack of interest in the single currency and put 0.9540 at risk.

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