EUR/USD has reversed its post-FOMC rally and is now lower that it was headed into the statement. US shares have turned lower as well, falling 1.5% from session highs and now down 0.6% on the day. EUR/USD trades at 1.4748, eying intraday support at 1.4733. Bids are seen down to 1.4720 level below which stops are said to gather. More are seen below the 1.4700 level.
It appears that traders will be less likely to buy dips this time around having seen EUR/USD struggle repeatedly in the 1.4830/40 area. Perhaps it is finally time for a meaningful correction.