The FOMC meeting minutes for the July 27-28 meeting have been released and showed a bit more hawkish approach from central bankers. FOMC: "Looking ahead, most participants noted that, provided that the economy were to evolve broadly as they anticipated, they judged that it could be appropriate to start reducing the pace of asset purchases this year". The Fed is concerned about the risk of too much easing. One can see, however, that there is a chance to introduce tapering earlier than Powell would have liked which resulted in a profit taking on the dollar. Moreover, it was previously expected that the minutes would show a willingness to introduce tapering from the Fed.
EURUSD bounced off the major support at 1.1700 support after today's FED Minutes release and if current sentiment prevails currency pair may be heading towards resistance level at 1.1835. Source:xStation5
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