EUR/USD is trading 0.22% higher following the Fed 0.50bps rate cut. The pair has moved higher from trading 0.46% lower earlier in the session. EUR/USD Daily Chart EUR/USD moved higher following the announcement from the Federal Reserve. The central bank announced a 0.50bps rate cut as a measure to protect the economy against the coronavirus. There has been a mixed reaction to this in general as stocks have moved lower and gold has moved up. Either way, EUR/USD reacted in a positive manner and moved higher. It must be said the rate cuts had been priced in but few would have guessed that Jerome Powell would have moved this quickly and at this rapid rate. Looking at the technicals now you can see that the price printed above the red trendline on the chart below. Now it will be interesting to see if the market tests the 1.1250 resistance zone and it seems likely if there is a positive close. If the market does move lower 1.11 has been used as a good support zone a number of times. The red internal trendline that comes from below could also be an important support zone. As this move was priced in there could be a pullback and the moved in EUR/USD was very fast so the pair is still in overbought areas. Additional Levels 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 US: “Presumptive positive” coronavirus case confirmed in Maricopa County, Arizona FX Street 3 years EUR/USD is trading 0.22% higher following the Fed 0.50bps rate cut. The pair has moved higher from trading 0.46% lower earlier in the session. EUR/USD Daily Chart EUR/USD moved higher following the announcement from the Federal Reserve. The central bank announced a 0.50bps rate cut as a measure to protect the economy against the coronavirus. There has been a mixed reaction to this in general as stocks have moved lower and gold has moved up. Either way, EUR/USD reacted in a positive manner and moved higher. It must be said the rate cuts had been priced in but few would… 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.
