Forex: EUR/USD tests 1.4845 resistance ahead FOMC decision

04 November 2009 @ 01:01 pm EDT

FXstreet.com (Barcelona) - The Euro is testing the 1.4845 level against the Dollar just ahead the FOMC rate decision. Last two hours the pair has been trading in a narrow range between 1.4830 and 1.4845.

Currently the pair is trading around 1.4835/45, 0.80% above today's opening price action at 1.4720.

The RANsquawk Research Team comments: "The FOMC is expected to keep interest rates in a 0-0.25% range at the November meeting and could refrain from major changes to the accompanying statement after much speculation last week."

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