EURUSD Technical analysis 20.09.17

EURUSD

The pair still remains within the range as the results of the Fed monetary policy meeting are expected to be released. The interest rates raise is not expected, however, the decision to start the balance sheet reduction may be announced, which can provide a local support for the USD.

The price is above the middle Bollinger band, above SМА 5 and SMA 14. RSI has stopped growing. Stoch do not provide any meaningful insight.

Trading recommendations:

If the price falls below 1.1985 level amid the Fed meeting results and Janet Yellen speech, the pair is likely to go further down to the lower end of the range at 1.1840.