EUR/USD is trading around 1.1360, off the highs that were exactly at the double top already mentioned in the past.
The euro is enjoying the dovish message from the Fed, but so far, this isn’t enough to break the critical level, which is turning into into a triple top.
Update: EUR/USD breaks double top and 1.14 on second wave of USD selling
Here is the chart. Note the 1.1375 level, which capped the pair in November 2003 and 3 times in recent weeks:
The next level above is the all-important 1.1460, which was the recovery high. On the downside, we find 1.1290 and 1.1220.
What will happen next? The Greek crisis is still with us. If we get a solution, we could see a temporary relief rally. Without a deal, there could be pressure on the euro.
However, the main attention is still on central banks.
Here is a video wrap up:
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