EUR/USD: Euro corrects, cancelling more than half of the gains post-Fed


© Reuters. EUR/USD corrects after the rally of yesterday

Investing.com – after having risen sharply yesterday night against the downward impact of the decisions of the Fed on the Dollar, the pair EUR/USD corrected on Thursday, cancelling more than half of the increase yesterday.

The Euro-Dollar suffers from a rebound in the Dollar, and the correlation with the GBP/USD lost about 100 pips since the beginning of the european session, still penalized by the uncertainties about the Brexit.

The Dollar Index, which had marked a low of 95.17 yesterday evening, after flirting with the 96 before the announcements of the Fed, has cancelled almost two-thirds of its fall, 95.65 at the time of the writing of this article.

This afternoon, the main event of potentially influential on EUR/USD in the program of the day will be the index of the Philadelphia Fed, expected in the sharp rebound after the figures exceptionally disappointing in the previous month.

From a graphical point of view, it should be noted that the return of the EUR/USD below the psychological threshold of 1.14 is a bearish signal important.

In regards to the important thresholds to watch for in case of further decline, it should be noted that the retracement Fibonacci 61.8% for the rise from yesterday, located at 1.1385, will be considered as an immediate support, prior to 1.1360, 1.1325-35 and 1.13.

The increase, 1.14 is the first resistance in sight, before the vertices of yesterday evening 1.1445-50, then the threshold major psychological 1.15.

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