18 Jun 2015
EUR/USD takes a breather at 1-month highs
FXStreet (Córdoba) - EUR/USD is taking a breather near recent highs after the steep rally triggered by the FOMC policy meeting found interim resistance at the 1.1430 zone.
USD pressured by Fed
EUR/USD has climbed more than 150 pips over the last sessions and stretched to a fresh 1-month high of 1.1427 at the beginning of the New York session as the dollar weakened further on the back of softer-than-expected US CPI figures (0.4% vs 0.5% exp in May). Yesterday, the Federal Reserve reiterated that higher consumer prices was one of the necessary conditions before it would raise interest rates.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.1401, recording a 0.57% gain on the day. As for technical levels, immediate resistances are seen at 1.1427 (Jun 18 high), 1.1450 (May 18 high) and 1.1485 (Feb 6 high). On the other hand, supports could be found at 1.1329 (Jun 18 low), 1.1280 (10-day SMA) and 1.1205 (Jun 17 low).
USD pressured by Fed
EUR/USD has climbed more than 150 pips over the last sessions and stretched to a fresh 1-month high of 1.1427 at the beginning of the New York session as the dollar weakened further on the back of softer-than-expected US CPI figures (0.4% vs 0.5% exp in May). Yesterday, the Federal Reserve reiterated that higher consumer prices was one of the necessary conditions before it would raise interest rates.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.1401, recording a 0.57% gain on the day. As for technical levels, immediate resistances are seen at 1.1427 (Jun 18 high), 1.1450 (May 18 high) and 1.1485 (Feb 6 high). On the other hand, supports could be found at 1.1329 (Jun 18 low), 1.1280 (10-day SMA) and 1.1205 (Jun 17 low).