EUR/USD SETTLE DIRECTION

The Euro suffered heavy losses below 1.1210 against the US Dollar after the Fed interest rate decision announcement.

EURUSDH1

The EURUSD pair declined sharply and moved below a crucial support trend-line at 1.1212, the 100 hourly simple moving average and the 61.8% Fib retracement level of the last wave from the 1.1165 low to 1.1295 high.

The pair is currently approaching the last swing low of 1.1165. It may soon break it and move towards the 1.236 extensions of the last wave from the 1.1165 low to 1.1295 high at 1.1135.

Overall, the trend for EURUSD has turned bearish and the pair remains a sell on rallies towards 1.1210 and 1.1215 in the near term.

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