- US Dollar rises modestly after 25bps cut from the Fed.
- Euro down versus USD; unchanged versus GBP, CHF.
As expected, the Fed cut rates 25bp to 1.75%-2.00%. The new projections show that seven out of 17 Fed staff members see another rate cut this year. Two members (George and Rosengren) voted against the rate cut while one member (Bullard) wanted a 50bps cut. Now trader await Powell’s press conference.
The Greenback rose immediately after the release of the statement but then pulled back. Equity prices turned lower but then moved off lows.
EUR/USD Levels to watch
So far EUR/USD has remained with today’s range. To the downside, immediate support might lie around 1.1035 followed by the strong 1.0990 area and 1.0960. On the upside, 1.1070/75 continues to be the resistance to break for a test of 1.1105/10. A close above 1.1110 would point to a continuation of the rally from 1.0925.
|Today last price||1.1064|
|Today Daily Change||-0.0010|
|Today Daily Change %||-0.09|
|Today daily open||1.1074|
|Previous Daily High||1.1076|
|Previous Daily Low||1.099|
|Previous Weekly High||1.111|
|Previous Weekly Low||1.0927|
|Previous Monthly High||1.1251|
|Previous Monthly Low||1.0962|
|Daily Fibonacci 38.2%||1.1043|
|Daily Fibonacci 61.8%||1.1023|
|Daily Pivot Point S1||1.1018|
|Daily Pivot Point S2||1.0961|
|Daily Pivot Point S3||1.0932|
|Daily Pivot Point R1||1.1103|
|Daily Pivot Point R2||1.1132|
|Daily Pivot Point R3||1.1188|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.