EUR/USD hits fresh multi-year highs after FOMC, about to test 1.1800

US dollar rises marginally after FOMC statement, attention turns to Powell.
EUR/USD hits highest since September 2018, still below 1.1800.

Matías Salord FXStreet

The EUR/USD pair was trading at fresh multi-year highs and after the released of the decision from the Federal Reserve peaked at 1.1792 and then pulled back modestly, finding support at 1.1770.

As expected, the Federal Reserve kept interest rates unchanged at 0.00-0.25%. it practically repeated the stamen from the June meeting. Now eyes turn to Jerome Powell, Fed’s Chairman who will start speaking at 18:30 GMT. He will probably be asked about the meeting, possible implementation of the yield curve control, among other questions.

The US dollar moved sideways after the statement, without a clear direction, holding onto losses versus majors, flat versus commodity and modestly higher versus emerging markets currencies.

Technical levels

The EUR/USD appears to be poised to test the 1.1800 area before Powell. On the downside, 1.1760 is the immediate support followed by 1.1740 and the daily low at 1.1710.

EUR/USD

Overview
Today last price	1.1788
Today Daily Change	0.0072
Today Daily Change %	0.61
Today daily open	1.1716

Trends
Daily SMA20	1.1423
Daily SMA50	1.1281
Daily SMA100	1.109
Daily SMA200	1.1078

Levels
Previous Daily High	1.1774
Previous Daily Low	1.1699
Previous Weekly High	1.1658
Previous Weekly Low	1.1402
Previous Monthly High	1.1422
Previous Monthly Low	1.1097
Daily Fibonacci 38.2%	1.1727
Daily Fibonacci 61.8%	1.1745
Daily Pivot Point S1	1.1685
Daily Pivot Point S2	1.1655
Daily Pivot Point S3	1.161
Daily Pivot Point R1	1.176
Daily Pivot Point R2	1.1805
Daily Pivot Point R3	1.1835

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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