• EUR/USD added to earlier losses, neared 1.0860 before the Fed statement

• Fed's SEP for 2025 increased inflation, unemployment & lowered growth

• US yields softened which weighed down the US$

• EUR/USD rallied towards 1.0895 and sat just below the 5-DMA

• Daily RSI is falling but monthly is rising which sends mixed signals

• Fed Chair Powell's presser remains a risk
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)