As the Federal Reserve meeting is coming to an end, the US dollar bulls have calmed down seeing reducing risks. However, the pairs generally change hands at the limited range with the market being focused on the monetary policy.
The euro-to-US dollar exchange rate managed to return to the black seeing support at 1.1730 and stays now at some 1.1765. The pair will meet eyes the following days, as the European Central Bank will be the next after the US Federal Reserve. The ECB meeting is to take place on Thursday. The position of both regulators remains uncertain.
Specifically, the players doubt that the Federal Reserve Chairman Jerome Powell will voice clear bullish signals despite the healthy economic situation. As for the European Central Bank, it is expected to announce the dates of QE exit, though the market concerns that Mario Draghi can remain careful which will affect euro strengthening.
With the highly probable aggressive position of the Federal Reserve, the downward risks prevail in EUR-USD. The rates are getting support near a 20-day moving average at 1.1720.
However, the US dollar bulls can easily push euro below 1.17 handle if Fed officials come through with the careful sentiments.