EUR/USD takes a breather ahead of Fed

After rallying toward a 6-day high above 1.3050, the euro lost momentum and has spent the last hours consolidating in a tight range just below as investors await the Federal Reserve decision.

EUR/USD extended gains into a third day on Wednesday and touched a high of 1.3052 before finding resistance. However, the subsequent slide was contained by the 1.3030 area and EUR/USD is currently trading around 1.3040, still 0.3% above its opening price.