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EUR/USD gains momentum after FOMC statement and rises above 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/USD rose toward daily highs after the Federal Reserve, as expected, left interest rates unchanged. In the statement, the US central bank mentioned that is closely monitoring global economic and financial developments and also that economic growth slowed late last year despite the improvement in the labor market.

    The statement weakened the US dollar versus the euro, the Swiss franc and the Yen, but it remains mostly steady versus commodity currencies. The euro was among the most favored currencies after the decision and hit fresh highs versus the pound.

    EUR/USD rose toward daily highs. It was attempting to climb back above 1.0900. Earlier during the European session, it peaked at 1.0913. So far it remains below that level.

    EUR/USD remains limited

    So far, the FOMC statement did not trigger significant volatility and EUR/USD remains within the range of the previous days, below the key resistance located around 1.1000 - 1.1050 and above the 1.0800 support zone.

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