Ella 
EUR/USD extended losses for the third consecutive day. During the Asian session on Thursday, spot prices fell to around 1.0640. As expected, the U.S. Federal Reserve (Fed) chose to keep its current benchmark policy rate at 5.5% at its meeting on Wednesday.
The Federal Reserve is expected to raise interest rates again in 2023, putting downward pressure on the EUR/USD pair. Additionally, the Federal Open Market Committee (FOMC) said in its monetary policy statement that it expects inflation to be slightly higher than previously forecast.
Thursday’s six-month low of 1.0616 is likely to act as near-term support, followed by the psychological 1.0600 mark.
On the upside, the 18-day exponential moving average (EMA) at 1.0728 and the 21-day exponential moving average (EMA) at 1.0742 are key hurdles.
A break above the latter would provide support for EUR/USD into the area around the 23.6% Fibonacci retracement level at 1.0772, followed by the psychological 1.0800 level.
The Moving Average Convergence Divergence (MACD) line remains below the midline but at the same level as the signal line. This configuration suggests that the underlying asset price momentum is relatively neutral, with neither bulls nor bears dominating.
However, momentum in the EUR/USD pair points to bearish sentiment in the market as the 14-day relative strength index (RSI) remains below the 50 level.
