" title=" " width="799" height="604" /> The currency pair came under pressure today, following the yesterday’s Fed’s announcement. On Wednesday, the pair closed below the $1.3300 mark; Today it touched $1.3200.
The eurozone released a bunch of positive PMI figures on Thursday, but the data didn’t offer much support for the pair. Yesterday we sold the pair from $1.3275 with a target of $1.3175 and a stop at $1.3330. We expect the pair to reach this target in the coming days.
A break below this support would confirm the formation of a medium-term top and open the way for a deeper drop. Next support lies at $1.3115/00, $1.3030 and $1.3000.
The euro needs to break above $1.3415 in order to continue the rally, but, given the Fed’s hawkish tone, the chances for that are very low.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.