The support of the 1.1000 psychological level was enough to push the EUR/USD currency exchange rate into the 1.1080 level.
On Wednesday, the rate bounced off the 1.1080 level and declined down to a cluster of technical levels at 1.1040. Future forecasts were based on what would happen at this level.
FOMC Wednesday
EUR/USD hourly chart's review
On Wednesday morning, the EUR/USD stood at the support of the 55, 100 and 200-hour simple moving averages and a weekly pivot point at 1.1040.Hourly Chart
Since Tuesday morning, 66% of open EUR/USD position volume on the Swiss Foreign Exchange was in short positions.
Meanwhile, pending trade orders were bearish, as 55% of orders in 100 pips range around the current rate were to sell and 45% were to buy.
Previously, the orders were 66% to buy.