EUR/USD Forecast: Euro needs to break 1.0770; key support at 1.0700

The EUR/USD pulled back moderately on Tuesday. It spiked to 1.0769, the highest level in a week during the Asian session, but then reversed course, ho

meeting.

Market prices indicate a near 50% chance of a rate hike on Thursday, but most analysts anticipate at least one 25 basis points rate hike before the end of the year. The economic outlook of the Eurozone is a key factor that could limit rebounds in the EUR/USD. Meanwhile, the US outlook is not particularly bright but indicates a more resilient economy.

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