EUR/USD Shifts Amid Stronger Dollar and Upcoming FOMC Meeting

The EUR/USD pair experienced a shift as it initially reached weekly highs before turning downward, driven by a stronger US Dollar in anticipation of US employment data and the FOMC meeting. Disappointing inflation and growth figures from the Eurozone, along with an impending ECB hold in December, contrasted with mixed US data on Tuesday. The focus now turns to the upcoming FOMC meeting and US employment reports, with the US Dollar's support stemming from solid fundamentals, while market sentiment helps keep the EUR/USD pair away from recent lows.

According to technical analysis, the EUR/USD moves lower on Tuesday, approaching the middle band of the Bollinger Bands. Currently, the EUR/USD is trading below the middle band, indicating the potential for a slight lower movement. The Relative Strength Index (RSI) is at 46, signaling that the EUR/USD is in neutral bias.

Resistance: 1.0616, 1.0705
Support: 1.0500, 1.0405