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EUR/USD Breaks Rising Channel Support

After the FOMC meeting yesterday (3/19), the USD started to gain across the board. 

EUR/USD fell sharply and was trading at a channel support heading into the 3/20 session. After the London session began, it extended the fall, breaking the rising channel support seen in the 4H chart.


(EUR/USD 4H Chart)

Looking at the 4H chart EUR/USD was bullish since February, but just shifted to neutral and maybe slightly bearish. It would be tough for the 3/20 US session to extend the decline further without some consolidation and seeing the stochastic and RSI in the 4H chart come up above the oversold area.