EUR/USD: the eurodollar remains bullish, but beware of today's (Wednesday) Fed meeting (UBS)

UBS is wondering if the Fed will change the forex's sentiment on the USD.

"The EUR/USD has had a favourable phase so far this week, but we have a Fed meeting today (Wednesday).

The market does not anticipate much for the rest of the year in terms of rate hikes. We will see if the Fed will change the negative sentiment on the USD with its rhetoric.

For the moment the market seems bullish on the EUR/USD and we are looking to buy on fallback. The 1.1830 zone seems to be a pivot support level at the moment."