EUR/USD slides to six-day lows near 1.1800 ahead of the FOMC

Euro drops across the board, remains under pressure.
US Retail Sales below expectations, attention turns to the FOMC statement.

Matías Salord FXStreet

The EUR/USD dropped further after the beginning of the American session and bottomed at 1.1808, the lowest intraday level since last Thursday. The pair then bounced modestly and ahead of the FOMC statement it is hovering around 1.1830, still under pressure but supported above 1.1800.

The slide took place amid a mixed US dollar and a weaker euro across the board. EUR/GBP is also at six days lows, testing 0.9100 while EUR/CHF fell to the lowest since late August, below 1.0750.

Economic data from the US showed an increase in retail sales but below expectations. Attention is set on the Federal Reserve. At 18:00 GMT the FOMC will announce its decisions and the new economic projections of its members. Later, Powell will present a statement and will answers questions. It is the first meeting since the Fed announced its new strategy.

The DXY found support again at 92.80 and spiked to the upside to 93.15. It is trading at 92.92, ahead of the meeting, moving sideways. The biggest loser among majors is the euro so far with the yen and the pound outperforming.

Technical levels

EUR/USD

Overview
Today last price	1.1812
Today Daily Change	-0.0035
Today Daily Change %	-0.30
Today daily open	1.1847

Trends
Daily SMA20	1.1842
Daily SMA50	1.1724
Daily SMA100	1.1411
Daily SMA200	1.1212

Levels
Previous Daily High	1.1901
Previous Daily Low	1.184
Previous Weekly High	1.1918
Previous Weekly Low	1.1753
Previous Monthly High	1.1966
Previous Monthly Low	1.1696
Daily Fibonacci 38.2%	1.1863
Daily Fibonacci 61.8%	1.1877
Daily Pivot Point S1	1.1824
Daily Pivot Point S2	1.1801
Daily Pivot Point S3	1.1763
Daily Pivot Point R1	1.1885
Daily Pivot Point R2	1.1924
Daily Pivot Point R3	1.1946

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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