The common European currency remains near previous session opening levels against the US Dollar. However, there is a huge arch observable on the hourly chart. The jump of the currency exchange rate was caused by the US CPI and Retails Sales data set release, which turned out to be a lot less than the average market forecast. That caused the EUR/USD pair to jump and almost reach the 1.13 mark. However, at 18:00 GMT the Federal Reserve made their announcements, which strengthened the US Dollar all across the markets. As a result the pair trades in limbo around the cluster of levels of significance at just above the 1.12 mark. The rate can either retreat to the 38.20% Fibonacci retracement level at the 1.1188 level or begin a surge up to the 200-hour SMA at 1.1231 by the end of the day.
