Euro (EUR) ne apni recent upward momentum ko Tuesday ko roka, jab yeh 1.1100 ke aas-paas settle hua. Traders Federal Reserve (Fed) ke interest rate faislay ka intezar kar rahe the jo Wednesday ko aana tha. Is hafte ke liye European economic calendar mein kuch khaas nahi tha, is liye market ki tawajjo Fed ke rate cut par thi. August ke liye US retail sales ka data kuch support provide kiya, jo 0.1% growth ke saath thoda behtar tha jabke prediction -0.2% contraction thi. July ke retail sales figures ko bhi 1.1% tak revise kiya gaya. Magar core retail sales, jo auto purchases ko exclude karti hain, sirf 0.1% barh gayi, jabke expectation 0.2% thi. Fed ka aane wala interest rate meeting Wednesday ko is hafte ka sabse aham waqia hai. Investors ne saal ke shuru se rate cut ki umeed laga rakhi hai, aur March mein reduction ki guftagu tez ho rahi hai. CME ka FedWatch tool abhi yeh darshata hai ke market 50 basis point ka rate cut anticipate kar raha hai, lekin 25 basis point ka reduction hone ki bhi achi sambhavna hai.USD pair ki recent rally ne Tuesday ko resistance ka samna kiya, aur long-term bulls cautious rahe. August ke aakhir mein ek saal ke high se peeche hatne ke baad, price action technical consolidation mein phas gaya hai, jabke last week ka bullish bounce 1.1000 se aaya tha. Tuesday ko bullish open ne 1.1116 ke aas-paas supply zone ko touch kiya aur usse bahar nikal gaya, aur current bullish range ka mid-point 1.1129 par khatam hua. 1.1100 ya Point of Control (POC) 1.1088 par pullback ki umeed hai, jahan bulls is level ko defend karne ki koshish kar sakte hain. Agle supply zone ke potential targets 1.1150 aur 1.1166 hain, jo 80% aur 100% Fibonacci extension levels ke kareeb hain. Jab Fibonacci extension tak pohanch jaaye, toh 1.1072 aakhri relevant support level ke taur par confirm hoga. Is waqt ke upside move ke liye, 1.1002 aakhri valid support level hai.
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