Tests the next key target
The EURUSD fell to support at the 1.1097 area soon after the Fed decision. Bounced 50 pips, and has continued and extended below the support at the 1.1097 level. The next target at the underside of the broken trend line comes in at 1.10696. The low has reached 1.1075.
Traders will be eyeing to see if the 1.1097 level now holds resistance.
Activity is volatile. Define and limit YOUR risk. The statement leaves all doors open although the headlines from stories all focus on the word "transitory" Bring on the 2nd quarter data.
