After FOMC, price is respecting the .683 level at a lower time frame level, which looks like the neckline for a potential head and shoulders reversal pattern. Although price broke out of the red sub trendline, indicating a move lower, interest rates remained unchanged so market should react with a weaker dollar, moving the pair up throughout the next couple of sessions. We can see price ride along this trendline until it meets stronger resistance where it will drop prices lower towards the channel bottom (blue lines).
Comment:
thanks to the news, prices are pushing up to that trendline. Watch resistance at .6955.
Comment:
Price reached TP and moved even higher after.
