EUR/USD Technical Analysis: Euro falls 50 pips as Fed raises the target for Fed funds rate by 25bp to 1.75-2.00%

EUR/USD falls about 50 pips as the Federal Reserve decided to raise the target for Fed funds rate by 25bp.
The next strong support is the 1.1730 level.

Flavio Tosti Independent Analyst

EUR/USD 15-minute chart

Spot rate: 1.1750
Relative change: 0.06%
High: 1.1793
Low: 1.1729

Trend: Bearish below 1.1800

Resistance 1: 1.1770, 200-period SMA (m15)
Resistance 2: 1.1800 figure
Resistance 3: 1.1821 current week’s high

Support 1: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Support 2: 1.1650 June 5 low
Support 3: 1.1600 figure

Author

Flavio Tosti

Independent Analyst

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