Strategy
EURUSD X-rate - 16 September 2020
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Published on 2020-09-16
A moderate bullish (dollar weakness) bias is applicable above 1.1850. Technical score: 0
Yet again testing the change in trend direction to dollar strength level. A bearish MACD crossover on the daily time frequency remains intact, which supports dollar strength. Downside price momentum halted – supporting dollar weakness.  Upside target: 1.2011. Downside target for a break below 1.1850 will be 1.1812.
•	The dollar and the yen both found support on Wednesday as traders finessed positions ahead of a US Federal Reserve policy decision, while the Chinese yuan held gains as the outlook brightened for the world's second-largest economy.
•	Later in the day the Fed concludes its first meeting since adopting a more accommodative approach to inflation.