Recovery off Tuesday's low of $1.1731...>

EURO-DOLLAR: Recovery off Tuesday's low of $1.1731 extended to $1.1793 before

momentum faded, the rate then dropped back to $1.1766 at the London fix before

extending the corrective pullback to $1.1761, settled around $1.1767 into the

close. Slow trade in Asia with focus on tonight's US FOMC rate announcement,

trade during the session contained within a $1.1756-70 range, holding above

$1.1760 in early European trade. Most expecting the Fed to hike rates again by

25bps with more focus on the accompanying comments, economic projections and

Chairman Powell's press conference to determine rate path outlook. Support seen

into that $1.1756 low, a break to expose $1.1740 with some tech traders seeing

room for a move down to $1.1715/10. Resistance seen between $1.1790/1.1800, a

break to expose recent high of $1.1815. Large amount of option expiries between

$1.1725-50 for today's NY cut totalling around E5.17bn, more between

$1.1695/1.1705 totalling E2.68bn.