EURUSD

The pair is moving in a narrow band around the 1.1505 pivot level ahead of the most important event of the day, the FOMC. Although the low expectations of inflation in the Eurozone have caused increased volatility in the pair, the main movement will occur in the evening. A "dovish" message from the Fed (close to interest rate cuts) could push the pair to resistance levels of 1.15355 and 1.16107. A "hawkish" stance (continuation of a tight policy) could strengthen the Dollar and cause the pair to test support levels of 1.14298 and below.