EUR/USD after spiking lower following the Fed on the Daily Chart

eurEUR/USD (current price: 1.0507)

The French CPI came in at 0.0%, in line with expectations, while the Eurozone Industrial Production slightly missed the consensus estimate. The U.S. releases were mixed, as Retail Sales missing expectations, together with the U.S. Industrial Production. The PPI and Business Inventories were better than expected, but the Dollar still lost ground before the FED-announcement. After the decision, the FOMC-statement hinted on three more rate hikes in 2017, compared to the previously expected two hikes. The statement sent the pair falling as low as 1.05 in late trading.

Our assessment: EUR/USD finished the session just above the 1.0475 support level. The hawkish FED decision could lead to new lows in the pair in the coming days.

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