EUR/USD Falls to Critical Support Area Amid Hawkish FOMC Meeting

The EUR/USD has fallen back to an important support area after a more hawkish-than-expected FOMC meeting, which strengthened the US dollar. The pair's decline has sent it back to a level not seen since July and has left it vulnerable to further decreases.

The EUR/USD is currently sitting on support around $1.146, an area that formed in June and turned into resistance in July. This region is crucial because once the pair rose above it in July, it rallied to around $1.16 and eventually reached highs near $1.17.

If the currency pair falls below support at $1.146, it could ultimately lead to a drop back towards the June and July lows near $1.135. A break of support at that level could then open the door to a further decline towards $1.128.