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USD Bulls showed up after FOMC – EUR/USD Market Outlook – 17/09/2020

SquaredFinancial

The Euro hit our 1.1760 target during the Asian session despite the Fed saying rates to stay pinned near zero until 2023 and reiterated tolerance for high inflation. However, the USD bulls showed up after Chairman Powell said that he expects the US economic recovery from the coronavirus crisis to gather pace and foresees unemployment falling faster than expectations, which probably means less stimulus ahead. Today, the single currency will likely resume the sell-off if the Dollar continues to pick up momentum, targeting the 1.17 critical support.

Support: 1.1760 / 1.17
Resistance: 1.1810 / 1.1835

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/usd-bulls-showed-up-after-fomc-eur-usd-market-outlook-17-09-2020
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