However, all eyes will be on the FOMC meeting today, with market widely expecting the Fed to keep interest rate on hold at 5.25%. If the Fed maintains that inflationary pressure remains a predominant concern, we may see a possible rebound in the dollar as technicals are pointing towards dollar-oversold levels.
Having broken out the downtrend line EURAUD look to rally up to 1.6400. Long on dips at 1.6050. Place stops below 1.5950.



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