EUR/USD rises modestly after FOMC statement

• FOMC keeps policy unchanged as expected. 
• USD turns lower as US bonds rise.

The EUR/USD pair remained within the US session range after the release of the FOMC statement. The pair kept moving near 1.1630 it turned modestly higher amid a slide of the greenback across the board. 

FOMC on hold, USD falls modestly

The Federal Reserve kept interest rate unchanged at 1.00-1.25%, as expected on a unanimous decision. The statement contained no significant changes. Now attention turns to tomorrow’s announcement from the White House that is expected to name Jerome Powell as the next chief. So far, the market impact has been limited.

The US dollar turned lower after the meeting. The Dollar Index dropped from 94.60 to 94.45, still holding above daily lows. The yen strengthened as US bond yields moved to the downside. 

EUR/USD is moving to the upside, currently testing level on top of 1.1630 (20-hour moving average). If it rises above 1.1645 a test of daily highs and the 1.1660 are could be expected.  

EUR/USD levels to watch

At the moment, the pair is at 1.1645, near the level it closed yesterday. To the upside, resistance levels might be located at 1.1660 (Oct 31 high), 1.1700 and above the FXStreet's technical confluence indicator identifies 1.1730. On the flip side, support could be seen at 1.1605 (daily low), 1.1590/95 (weekly low), 1.1570/75 (Oct 27 low) and 1.1540.