EUR/USD Technical Analysis: June 15, 2017
The EURUSD climbed up higher during earlier session of Europe, however, the pair drive downwards amid North American session, and remained steady after the Fed announced its decision to raise the interest rates.
The U.S Fed Reserve tightened its rates by 25 basis points to a range of 1% to 1.25%. They have already confirmed that inflation slowed down but based on their economic forecast, job markets appeared to be tighter in 2018 and 2019.
The projections were unchanged as most of the officials from Fed implied further twice rate hike for this year. Moreover, the CPI and U.S. retail sales showed a lower than expected results that helped the major pair to buoyed initially.
The pair moved near the resistance which currently acts as the support touching the 1.1231 level around the 10-day moving average. Further support came in at 1.1109 region placed near the lows of May 29 while the resistance highlighted the area 1.1285.
Momentum was neutral and the moving average convergence divergence (MACD) prints in the red showing a flat trajectory that indicates for a consolidation.