29 Jan 2014
EUR/USD keeps the range after Fed
FXstreet.com (Edinburgh) - The single currency remains within the intraday range on Wednesday, taking the EUR/USD to the area of 1.3645/40 after the Fed delivered a $10 billion taper.
EUR/USD resilient above 1.3600
The pair maintains its composure after the FOMC decided to taper by $10 billion its QE programme, taking it to $65 billion and matching consensus estimates. The FOMC also left the refi rate intact at 0.25% and informed that the vote was unanimous (not happening since June 2011). Furthermore, the Committee stressed that consumer prices below the 2% threshold would pose risks and that the next tapering step will begin next month.
EUR/USD levels to consider
As of writing the pair is losing 0.15% at 1.3648 and a break below 1.3594 (100-d MA) would expose 1.3564 (daily cloud base). On the upside, the initial barrier lies at 1.3689 (high Jan.28) followed by 1.3716 (high Jan.27) ahead of 1.3740 (high Jan.24).
EUR/USD resilient above 1.3600
The pair maintains its composure after the FOMC decided to taper by $10 billion its QE programme, taking it to $65 billion and matching consensus estimates. The FOMC also left the refi rate intact at 0.25% and informed that the vote was unanimous (not happening since June 2011). Furthermore, the Committee stressed that consumer prices below the 2% threshold would pose risks and that the next tapering step will begin next month.
EUR/USD levels to consider
As of writing the pair is losing 0.15% at 1.3648 and a break below 1.3594 (100-d MA) would expose 1.3564 (daily cloud base). On the upside, the initial barrier lies at 1.3689 (high Jan.28) followed by 1.3716 (high Jan.27) ahead of 1.3740 (high Jan.24).