FXStreet (Córdoba) – EUR/USD briefly rose above the 1.0900 level but it was rejected and fell quickly to the 1.0865 zone, retracing completely intraday gains on a broader USD recovery.
EUR/USD pulled back from a peak of 1.0911 toward a session low of 1.0867, where the 20-hour SMA contained the setback. At time of writing, EUR/USD is trading at 1.0872, virtually unchanged on the day.
Markets focus remains on the Federal Reserve policy statement during the American afternoon, where the FOMC is expected to keep policy unchanged and play down prospects of further rate hikes given recent turbulence in capital markets.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find next supports at 1.0830 (50-day SMA), 1.0777/70 (Jan 21 & 7 lows) and 1.0710 (Jan 5 low). On the other hand, resistances line up at 1.0911 (Jan 27 high), 1.0985 (100-day SMA) and 1.1000 (psychological level) ahead of 1.1050 (200-day SMA).
Trade Federal Reserve interest rate decision with FXStreet – Live Coverage
Trade the US GDP with FXStreet – Live Coverage
(Market News Provided by FXstreet)