EUR/USD Outlook (31st January 2019)

• EUR/USD broke resistance level
  
• U.S. Interest Rates
  

Price Movement
Since yesterday, EUR/USD moved downwards by around 20pips before moving back up by around 90pips.

Trend
EUR/USD is currently trending upwards.

Macro Background
This morning (0300 SGT), the Federal Reserve kept the Federal Funds Rate unchanged as expected and the market reacted to the FOMC statement and Press Conference negatively, resulting in EUR/USD moving up.

Important Issue
None.

Technical
Yesterday, EUR/USD tested and rejected the support level of 1.14138 and broke the resistance level of 1.14781 after the release of the Federal Funds Rate.
Currently, it is testing the 1.15 level.

Price Levels
Current Price: 1.15117
Next Resistance: 1.15458
Next Support: 1.14781