The Euro fails after the fed meeting
The Euro proceeded to decline prior to and develops corrective pulse at the last day of the trading week. Players fix profit, having found a convenient excuse in the form of a recovery of the dollar after a meeting of the Federal reserve.
The U.S. Central Bank expected to leave policy unchanged, but hinted at a December rate hike, which pushed cheapened the dollar to rise. Aggressive rhetoric, the Federal reserve triggered a flight from risk, and it has caused an additional blow to the high-yielding single currency. There is also lack of progress in the Italian budget, the authorities confirmed that no plans to change its strategy, and the EU is afraid of sanctions.
There is also a technical factor: the pair ran into strong resistance around 1.15 and not finding a reason to break it, back to the 1.13 level, which can be held until the end of today’s trading, if the mood of investors will not change for the better, the more that the dollar still has room to grow after the recent wave of sales.
In the case of recovery attempts EURUSD risk to meet the local resistance near 1.1370.
Next week the interest will submit data on inflation in the Eurozone, the key release will be retail sales in the United States that can support demand for the dollar.
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