EURUSD

We are on the most important day of the week. We will examine the decisions of the Federal Open Market Committee (FOMC) and the speech of Fed Chairman Powell. We will follow both the statement and the chairman's guidance in answering the question of how much change the rigidity in inflation will create in the bank's current expectations before the economic projections in June. The Dollar Index, and therefore the EURUSD and GBPUSD parities, may create significant pricing reactions in the current process. Before the critical Fed, the Classic Dollar Index follows a profile that continues the idea of a strong dollar, a weak Euro and Sterling, with optimism on the 34 and 100-day averages (104.14 - 104.94 region) and the expectation of reaching the 107 level tested in October 2023. The 1.0681 level can be followed in intraday upward movements. If this level is exceeded, the 1.0709, 1.0734 and 1.0742 resistances may become important. In case of possible pullbacks, 1.0646, 1.0627 and 1.0573 will be monitored as support levels. Support: 1.0646 – 1.0627 Resistance: 1.0681 – 1.0709