Following the latest statement of the Federal Open market Committee (FOMC), the US dollar dropped markedly to even touch $1.1000 level as the Federal Reserve remained cautious about rate-hike, despite the drop of 'patient' from its statement. Fed's Chair Janet Yellen cooled markets with her subsequent quote 'just because we removed the word patient from the statement doesn't mean we're going to be impatient.' Such answer helped to sell dollar further, correcting only on Thursday. Nevertheless, we can see some correction on euro again, but the already running quantitative easing program from the European Central Bank (ECB) still undermines strength of the eurozone's currency, while dollar despite being already lifted around 25% since July 2014, can be held higher for some time. Now if you are in short position on EUR/USD, we can see support level at $1.0588, while next take profit level could be set at $1.0470. If it surpasses its 12-yr low, we can get to $1.0328 levels. On the other hand, slight resistance could be seen at $1.0849, while another one at $1.1030.
