The general message from the Fed was: the economy is a bit slower, but OK all in all. And, they also hinted about a hike in December, data dependent of course. We mentioned a sell opportunity in EUR/USD before the event and the actual outcome was a huge fall of around 150 pips, with the pair hardly clinging to 1.09.
So far, EUR/USD dropped under 1.09 and reached a new low of 1.0897. Support is at the July 20 low of 1.0808. From there, the road is open to the 12 year lows of 1.0460. A recovery could meet resistance at 1.10, the line the pair struggled to break after the huge blow from Draghi.
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