17 Jun 2015
EUR/USD retreats ahead of FOMC statement and Yellen speech
FXStreet (Córdoba) - EUR/USD approached earlier 1.1300 but lost strength and pulled back once again toward the 1.1250 area. Recently printed a fresh session low at 1.1233.
EUR/USD remains sideways
Since more than a week, price has been unable to move considerably away from the 1.1250 zone and the pair is expected to remain around it as traders await the Federal Reserve decision on monetary policy and Janet Yellen press conference.
The US dollar is weak against European currencies so far on Wednesday, among them the euro is the worst performer, affected by the lack of progress around the Greek crisis. EUR/USD is up marginally but still holds a slight intraday bullish tone, reaching higher lows since the beginning of the week. Volatility is likely to soar with the FOMC statement.
EUR/USD levels to watch
Currently the pair trades at 1.1242, below the hourly 20-SMA stands. To the downside, under 1.1245 support could be located at 1.1200 (June 16 low), followed by 1.1190 (June 15 low, June 2 high) and 1.1150. To the upside, price is likely to face resistance near 1.1300 and above at 1.1330 (June 16 high) and 1.1380.
EUR/USD remains sideways
Since more than a week, price has been unable to move considerably away from the 1.1250 zone and the pair is expected to remain around it as traders await the Federal Reserve decision on monetary policy and Janet Yellen press conference.
The US dollar is weak against European currencies so far on Wednesday, among them the euro is the worst performer, affected by the lack of progress around the Greek crisis. EUR/USD is up marginally but still holds a slight intraday bullish tone, reaching higher lows since the beginning of the week. Volatility is likely to soar with the FOMC statement.
EUR/USD levels to watch
Currently the pair trades at 1.1242, below the hourly 20-SMA stands. To the downside, under 1.1245 support could be located at 1.1200 (June 16 low), followed by 1.1190 (June 15 low, June 2 high) and 1.1150. To the upside, price is likely to face resistance near 1.1300 and above at 1.1330 (June 16 high) and 1.1380.