29 Jan 2014
EUR/USD steadies ahead of Fed decision
FXstreet.com (Córdoba) - The EUR/USD is back at square one as it managed to steady around its opening levels as investors eagerly await the Fed decision.
The EUR/USD bounced strongly from the 1.3600 area and settled at mid-range after wavering between small gains and losses in the absence of economic drivers and amid jitters ahead of the Federal Reserve policy decision. Consensus point for another $10 billion cut of Fed's QE program during the last meeting with Ben Bernanke as Chair.
EUR/USD technical levels
At time of writing, the EUR/USD is trading around 1.3660, virtually unchanged since opening, with a day low of 1.3602 and a high of 1.3684 as immediate levels to clear. Further resistances are seen at 1.3715 (Jan 27 high) and 1.3739 (Jan 24 high). Further supports at 1.3588 (100-day SMA) and 1.3550 (Jan 9 low).
The EUR/USD bounced strongly from the 1.3600 area and settled at mid-range after wavering between small gains and losses in the absence of economic drivers and amid jitters ahead of the Federal Reserve policy decision. Consensus point for another $10 billion cut of Fed's QE program during the last meeting with Ben Bernanke as Chair.
EUR/USD technical levels
At time of writing, the EUR/USD is trading around 1.3660, virtually unchanged since opening, with a day low of 1.3602 and a high of 1.3684 as immediate levels to clear. Further resistances are seen at 1.3715 (Jan 27 high) and 1.3739 (Jan 24 high). Further supports at 1.3588 (100-day SMA) and 1.3550 (Jan 9 low).