• EUR/USD is in consolidation phase between 1.08610 and 1.09500 for the past five trading days. Euro shown a mild reaction after hawkish US Fed monetary policy. It is currently trading around 1.09179.
   
• US Fed has kept its interest rates unchanged and gave a hint of further two interest rate hikes this year.
   
•  On the lower side, minor weakness can be seen only below 1.08500 bottom formed after French election will drag the pair down till 1.08200/1.07850 (61.8% retracement of 1.06822 and 1.09508)/1.0745 (21 EMA).
• The near term major resistance 1.09780 (50% retracement of 1.16163 and 1.03400) and any violation above will take the pair till 1.1000/1.1045.The minor resistance is around 1.09329 (61.8% retracement of 1.1299 and 1.03400).
• It is good to sell on rallies around 1.0930-35 with SL around 1.09780 for the TP of 1.08500/1.0820.