EURUSD fundamental :Dollar Weakens After The Rate Cut Decision
Overall, the market is extending the gains compared with the dollar, after the Fed decided to cut 50 basis points from the overnight rate. This is, for the first time in the last few months, when the currency market is posting such strong gains.
The Euro (Eur/Usd) led the market higher against the dollar yesterday, after it strengthened 150 pips. However, the pair had some very big problems at The LFB R1 (1.2990), which it failed to break during the U.S. session. However, the resistance area fell very easy in the Asian session, after the pair advanced almost 200 pips.
EURUSD technical :
Upward movement should be limited in range 1.3294 - 1.3856 (38.2% - 61.8% fib retracement).
