The EUR/USD currency pair recovered significantly after the Federal Reserve left the US interest rate unchanged at its highest level in 23 years at 5.25%-5.5% for the fifth consecutive meeting in March 2024, in line with market expectations.
EUR/USD Technical analysis and forecast:
The EUR/USD currency pair's gains reached the resistance level of 1.0930, recovering from their losses at the beginning of the week, which reached 1.0835. After yesterday's decision, policymakers still plan to cut US interest rates three times this year, similar to the December quarterly forecast. Also, it had indicated three cuts in 2025, one less than in December, and three more cuts in 2026.
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