EUR/USD grabbing some territory back on FOMC

By FXstreet.com | July 30, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3391, down -0.13% on the day, having posted a daily high at 1.3416 and low at 1.3367.

EUR/USD is lower through the 1.34 handle on the US GDP surprise that took the dollar higher across the board, but the FOMC has taken some fuel out of the USD and currently EUR RSI is at 47.87, up from the last hourly print at 31.34. Meanwhile, daily RSI sits at 25.68, in neutral territory. The Fed left rates on hold and reduced monthly treasury bond purchases and continues at $25b per month There will not be a press conference and only a statement that came with some new language with the acknowledgment of a tick up in inflation but significantly said there is still work to be done in respect of “Growth rebounding” with there being “Slack in labour market” despite improvements and “Significant underutilisation of labour forces”.

EUR/USD hourly levels

Current price is 1.3393, with resistance ahead at 1.3395 (Hourly 20 EMA), 1.3404 (Yesterday's Low) and 1.3409 (Daily Open). Next support to the downside can be found at 1.3383 (Weekly Classic S1), 1.3377 (Daily Classic S2), 1.3367 (Daily Low), 1.3351 (Daily Classic S3) and 1.3337 (Weekly Classic S2).

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