- EUR/USD attempts a mild rebound to the 1.1740 area.
- Next on the upside comes the 1.1800 hurdle.
EUR/USD is trading closer to 1.1750, as the safe-haven dollar retreats. Investors are somewhat less worried about the financial woes of Evergrande, the Chinese construction behemoth. Tensions remain in the market ahead of Wednesday's PBOC and Fed meetings.
EUR/USD is moving away from Monday's monthly lows in the 1.1700 neighbourhood. In spite of the current bounce, the immediate outlook for the pair remains fragile. If the upside gathers extra steam, then the 1.1780/1.1800 band should emerge as the next important barrier. Here coincides the 10-, 55- and 20-day SMAs along with a Fibo level (of the June-August drop).
A breakdown of the September low at 1.1700 should expose the 2021 low at 1.1663 recorded on August 20.
In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1984.
