EUR/USD (current price: 1.1335)
The pair still trades around the rising trend-line that we have been monitoring recently, but EUR/USD might dip below that support in the aftermath of the hawkish FED statement. The pair could be headed to the 200-day MA at 1.105, as traders might start to price in a June rate hike in the coming weeks. Today’s U.S. GDP reading could change the outlook, should it come in much lower than expected. The most traded pair remains stuck in a long-term trading range since hitting a bottom more than a year ago below 1.05.
Our assessment: EUR/USD might be headed lower after the FED and the BOJ, as the pair still trades without clear long-term direction.
