- The dollar with mixed results prior to the Fed’s decision.
- EUR / USD extends pullback after hitting nearly twelve-day highs on Tuesday.
The EUR / USD jumped to 1.1830 and then returned to around 1.1800 an hour later. Despite these movements, the pair continues to move sideways on Wednesday, with limited travel in the run-up to the Federal Reserve decision.
The EUR / USD retracement after reaching 1.1840 on Tuesday, the highest level since July 15, found support at the 1.1800 area, which is being tested. The break of the same would intensify the negative intraday tone. In a bigger perspective. The cross continues with a consolidation path between 1.1750 and 1.1850.
Few data and eyes on the Fed
The data of the Eurozone was the German GkF consumer confidence report, which instead of rising to 1.0, remained at -0.3. The data was in tune with other trusted figures in the region that showed the same pattern.
The focus on Wednesday is on what will decide the Federal Reserve, which at 18:00 GMT will publish the statement. No changes to the interest rate are expected, nor announcements about the purchase program. The focus will be on the words and signals of when discussions about a reduction in the purchasing program could intensify.
Technical levels
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