9 Jul 2014
EUR/USD rallies to fresh weekly highs, FOMC minutes eyed
FXStreet (Córdoba) - The rise of the EUR/USD gathered pace within the last minutes, with the pair climbing to fresh weekly highs ahead of the Federal Reserve last meeting’s minutes.
The EUR/USD broke above the 1.3630 area and spiked to a fresh post-ECB/NFP high of 1.3642 as the greenback loses ground across the board. Earlier, the shared currency received a boost from ECB's Coene saying the EUR is not too strong.
Investors focus remain on the FOMC minutes due to be released at 18:00 GMT and the subsequent speech by Janet Yellen, hoping they could shed some light on when the Fed will hike rates.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at 1.3637, up 0.11% on the day, with immediate resistances at 1.3660 (50-day SMA) and 1.3675 (200-day SMA). On the other hand, supports are seen at 1.3604 (21-day SMA), 1.3587 (Jul 8 low) and 1.3575 (Jul 7 low).
The EUR/USD broke above the 1.3630 area and spiked to a fresh post-ECB/NFP high of 1.3642 as the greenback loses ground across the board. Earlier, the shared currency received a boost from ECB's Coene saying the EUR is not too strong.
Investors focus remain on the FOMC minutes due to be released at 18:00 GMT and the subsequent speech by Janet Yellen, hoping they could shed some light on when the Fed will hike rates.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at 1.3637, up 0.11% on the day, with immediate resistances at 1.3660 (50-day SMA) and 1.3675 (200-day SMA). On the other hand, supports are seen at 1.3604 (21-day SMA), 1.3587 (Jul 8 low) and 1.3575 (Jul 7 low).