High volatility on the EUR/USD, but no clear direction

The EUR/USD was very volatile during today’s session amid the US fundamentals and the FED’s decision. First during the day, the inflation data out of the US came out lower than expected, causing the EUR/USD to rally to the 1.1300 zone, but after the FED decided to raise its interest rates by 25 basis points to place it at a 1.25%, the Dollar rallies against its major counterparts and the EUR/USD drops again to the 1.1200 zone where it has been consolidating lately. The last five daily candles of the EUR/USD have a relatively small real body, which is an indication of indecision. Therefore, the pair may head in any direction. Below the 1.1200 level, its next support is at the 1.1100 level. To the upside, the 1.1300 level continues being its most important resistance so far.