U.S Dollar Rises As Fed Hikes Interest Rates By A Quarter Point

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The Federal Reserve raised interest rates 25 basis points to a range of 2.25% to 2.5% on Wednesday as expected, but central bank officials said they would likely slow the pace of further rate increases next year. They also hinted that the tightening of monetary policy is coming to an end.

U.S Dollar index rose from weekly support 95.90 to 96.53. Immediate resistance comes at 97.15 where a break will advance the index to the upside…Stability below 97.15/97.32 keeps the U.S dollar under pressure…

EURUSD: The pair ended the day at 1.1372 around daily chart resistance 1.1370. Anyway; the upside is limited by 1.1420/1.1465 levels. Support comes at 1.1345. A cut below support aims 1.1285 level. Below 1.1285 sees a fall risk to 1.1215 level.

GBPUSD: The pair remains under pressure below 1.2670. Support comes at 1.2615 ahead of 1.2560. Below 1.2560 aims 1.2480. Above 1.2670 will challenge 1.2705/1.2756 levels…

USDJPY: The pair rejected from the key support 112.29. resistance comes at 112.55 ahead of 112.85 level. Above 112.85 will pave the way to 113.70 level. Next resistance comes at 114.10 level…

AUDUSD: Under pressure, resistance comes at 0.7145 – broken support turned resistance, below that level aims 0.7075 ahead of 0.7000 levels. Any upside above 0.7145 will be limited by 0.7200/0.7240 level…

USDCAD: The pair is very bullish above 1.3465 with risk to move higher to 1.3545 level. Below 1.3465 sees a fall risk to 1.3400 before the next rise…

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