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21 May 2014
EUR/USD keeps the range after FOMC
FXStreet (Edinburgh) - The single currency keeps the composure on Wednesday, with the EUR/USD hovering over the mid-1.3600s after the release of the FOMC minutes.
EUR/USD indifferent post-minutes
Spot is looking to consolidate the morning decline from intraday peaks near 1.3720 to sub-1.3640 levels, currently creeping back to 1.3665/70. The FOMC minutes proved to be a non-event as largely anticipated, with the Committee expecting consumer prices to return to 2% in the next years and a gradual improvement in the labour market. The short term technicals remain bearish, comments Camilla Sutton, Chief FX Strategist at Scotiabank, adding “support lies at the 200-day MA at 1.3635; while resistance comes in at the 100-day MA at 1.3738”.
EUR/USD significant levels
The pair is now losing 0.25% at 1.3666 with the immediate support at 1.3648 (low May 15) ahead of 1.3643 (low Feb.27) and finally 1.3585 (low Feb.13). On the flip side, a surpass of 1.3734 (high May 19) would target 1.3739 (100-d MA) en route to 1.3771 (high May 13).
EUR/USD indifferent post-minutes
Spot is looking to consolidate the morning decline from intraday peaks near 1.3720 to sub-1.3640 levels, currently creeping back to 1.3665/70. The FOMC minutes proved to be a non-event as largely anticipated, with the Committee expecting consumer prices to return to 2% in the next years and a gradual improvement in the labour market. The short term technicals remain bearish, comments Camilla Sutton, Chief FX Strategist at Scotiabank, adding “support lies at the 200-day MA at 1.3635; while resistance comes in at the 100-day MA at 1.3738”.
EUR/USD significant levels
The pair is now losing 0.25% at 1.3666 with the immediate support at 1.3648 (low May 15) ahead of 1.3643 (low Feb.27) and finally 1.3585 (low Feb.13). On the flip side, a surpass of 1.3734 (high May 19) would target 1.3739 (100-d MA) en route to 1.3771 (high May 13).