EURUSD fell over 0.60% on Wednesday and is testing two-week lows as investors gear up for another supersized interest rate hike from the Federal Reserve. Also fresh news from Russia regarding partial mobilization further dented risk sentiment. Currently the most popular currency pair is testing a major support zone around the 0.99 area. If current sentiment prevails, downward move may accelerate towards next local support at 0.9840 or even 0.9693, where 2002 lows are located. On the other hand, if the US central bank softens its recent hawkish rhetoric, then an upward impulse towards parity level may be launched.
EURUSD, D1 interval. Source: xStation5
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