Dollar retraces losses after Fed’s meeting

9:00 GMT

The U.S Federal Reserve voted to keep rates at a near zero level yesterday, However the meeting held few surprises for the markets, spurring a temporary dollar rally on  the New York trading session.

EURUSD- the pair has retraced sharply after testing again the resistance area around 1.3307, now moving toward its first support area around 1.3050.

GBPUSD – Generally continues its remarkable correction upwards, with a slight retrace yesterday to around 1.4070  – A few days ago I was mentioning in my post ” who will catch a falling pound” about this pair possibly creating a base above 1.4 -  longing it since Jan 27 ,  managed to book me some nice quick  profits around 1.43 yesterday.

NZDUSD  – has moves sharply lower after the Reserve Bank of New Zealand had reduced interest by 1.5% ( from 5% to 3.5%). The pair is now trading under its daily key  support level at 0.5170.

USDJPY- has managed to break above the 90 level – many times I mentioned how important this level is, if sellers will not manage to push it back under 90, and stock markets will continue to close on the green, we can expect it to move higher soon. Next resistance area at 91.3

Z.Georgi

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