FXstreet.com (Barcelona) - The Euro has softened somewhat after the Fed statement and is testing levels below 1.3300 on its drop from fresh two -weeks high at 1.3340 reached right before the event.

The Euro is going through choppy trading immediately after the Fed's statement although the trend is slightly to the downside, nevertheless, Nick Nasad, currency market analyst with CMS Forex, refuses the idea that the Euro rally is over: Euro and Pound have pulled down from intra-day highs after the U.S. Federal Reserve released its decision to keep interest rates at 0% to 0.25%, while observed a slight recovery on U.S. economy.

On the downside, the Euro might fond support at 1.3245 (Apr 27 high) and below there, 1.3215 and 1.3165. Resistance levels stand at 1.3340 (intra-day high), and above here, 1.3390 (Apr 13 high) and 1.3400.

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