EUR/USD Drops After Fed Decision
EUR/USD dropped
from 1.1343 (6-day high) back below 1.1300 after the decision of the
Federal Reserve to leave rates unchanged as expected. The central bank
removed the reference to global developments and boosted the US dollar
across the board.
The pair bottomed at 1.1270, reaching a new
fresh daily low but then rebounded sharply and hit a new hight at
1.1360. Market was volatile after the decision with the US dollar still
looking for a clear direction. EUR/USD was trading around 1.1310,
modestly below the level it had before the statement.
EUR/USD so far limited
So
far the pair has reacted without breaking key short-term levels. To the
upside, still remains below 1.1370 and also under 1.1330, where the
20-day moving average stands. On the downside, remain far from 1.1230
and it even has risen back above an hourly uptrend line that stands at
1.1295.
