EUR/USD spikes to 1.1409 and reverses sharply, falling to fresh lows after FOMC statement. Federal Reserve leaves rates unchanged as expected, makes no major changes to the statement. The EUR/USD pair rose modestly after the release of the FOMC statement and climbed to 1.1409. But it quickly weakened, breaking below previous lows. It fell to 1.1370 and it was trading near the lows, under pressure, headed toward the lowest close since the beginning of the month. The US central bank, as expected, left the Fed Funds rate at 2.00- 2.25%, The statement contained practically no changes from the September meeting. The US dollar moved initially lower but then reversed sharply hitting fresh highs across the board, equity prices remained steady and gold prices trimmed losses. EUR/USD Levels to watch To the upside, the immediate resistance is seen at 1.1420 (20 hour moving average), 1.1445 (Nov 8 high) and 1.1475. On the flip side, if the euro drops further support could be located at 1.1370 (Nov 2 low), 1.1350 (Nov 4 low) and 1.1335. The last area protects the key area around 1.1300 that offered support in August and also in October, a break lower would open the doors to more losses. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next CME Group FedWatch shows 71.4% probability of a 25 bps hike in December FX Street 4 years EUR/USD spikes to 1.1409 and reverses sharply, falling to fresh lows after FOMC statement. Federal Reserve leaves rates unchanged as expected, makes no major changes to the statement. The EUR/USD pair rose modestly after the release of the FOMC statement and climbed to 1.1409. But it quickly weakened, breaking below previous lows. It fell to 1.1370 and it was trading near the lows, under pressure, headed toward the lowest close since the beginning of the month. The US central bank, as expected, left the Fed Funds rate at 2.00- 2.25%, The statement contained practically no changes from the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.