EURUSD lowest Since December 2002. Any chance to rebound? | Forex Market Analysis by ATFX

The dollar was boosted by the prospect of Fed rate hikes. At the same time, the euro hit its lowest level against the dollar since December 2002. At this moment, investors are awaiting the Eurozone June CPI data and ECB interest rate decision next week. EURUSD is still under the 1.0133 resistance.

Technically, the 4-hourly chart shows that the key moving averages are gathered around 1.0 edge. Once its breakthrough 1.0133 may confirm the bottom is confirmed. Otherwise, the downtrend may continue to 0.9942 or 0.9862.

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