EUR/USD extends NY session rebound from 4-hr 50-MA

EUR/USD found takers around the 4-hour 50-MA level of 1.0732 and extended the rebound to a high of 1.0788 in Asia. 

The US dollar spiked for a brief moment following the release of the Fed statement, which cheered the improvement in the economic sentiment. 

However, the greenback quickly surrendered gains as the Fed remained silent regarding the timing of the next rate hike. 

Eyes US data

The weekly US initial jobless claims data and continuing claims could influence the dollar demand. Meanwhile, BOE rate decision and Quarterly Inflation Release (QIR) could trigger sharp moves in EUR/GBP and EUR/USD pair. 

EUR/USD Technical Levels

A break above 1.0807 (100-DMA) would open the doors to 1.0851 (Oct 25 high), above which gains could be extended to 1.09 (zero figure). On the other hand, a breakdown of support at 1.0775 (Jan 24 low) could yield a sell-off to 1.0747 (5-DMA) and then to 1.07 (zero figure).