EURUSD Continues to Strengthen Following the FED Meeting
The recent breakout of the EURUSD above the descending channel was bolstered yesterday following the July policy meeting of the Federal Reserve.
Jerome Powell and his colleagues from the FOMC did not bring anything new to the table, which weakened the greenback in the short term.
The price action is currently probing the 200-day MA (in purple). The next closest resistance can be found at the 23.6 per cent Fibonacci retracement level at 1.18892.
Jerome Powell and his colleagues from the FOMC did not bring anything new to the table, which weakened the greenback in the short term.
The price action is currently probing the 200-day MA (in purple). The next closest resistance can be found at the 23.6 per cent Fibonacci retracement level at 1.18892.
