FXStreet (Edinburgh) – EUR/USD is navigating between 1.1200 and 1.1300 following the FOMC statement today.
EUR/USD in range post-statement
The pair keeps the daily range after the Committee has informed that the US economy has expanded at a moderate pace following Q1 weakness. In addition, members added that risks to the economic growth and labour market are finely balanced, while the slack in the labour sector has ‘diminished somewhat’.
The Fed also revised lower its economic growth forecast for the current year to 1.8%-2.0% from 2.3%-2.7%. In the same direction, the Committee has lowered the rate projections, matching the broader consensus.
EUR/USD relevant levels
As of writing the pair is up 0.40% at 1.1293 with the next resistance at 1.1301 (high Jun.17) ahead of 1.1331 (high Jun.16) and finally 1.1334 (high Jun.11). On the flip side, a breakdown of 1.1206 (low Jun.17) would open the door to 1.1189 (low Jun.15) and then 1.1151 (low Jun.12).
(Market News Provided by FXstreet)