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19 Mar 2014
EUR/USD holds above 1.3900, Fed eyed
FXStreet (Córdoba) - The EUR/USD continues to trade above the 1.3900 level Wednesday, lacking momentum to break the out the recent range as investors cautiously await the Federal Reserve decision.
EUR/USD consolidates ahead of Fed
The EUR/USD is consolidating in a slim range within 1.3900 and 1.3935 with second-tier data having virtually no impact on the cross. Today the Fed concludes a 2-day meeting and besides the statement bank's officials will update their GDP, unemployment and core PCE forecasts. Most analysts are expecting the Fed to continue tapering QE by $10 billion and all eyes remain on Yellen which is due to address her first news conference as chair later in the day.
EUR/USD technical levels
The EUR/USD is currently trading at the 1.3915 zone, 0.1% below its opening price with immediate supports lining up at 1.3900 (psychological levels) and 1.3880 (Mar 18 low), while resistances are seen at 1.3935 (Mar 19 high) and 1.3947 (Mar 17 high) and 1.3967 (2014 high Mar 13).
EUR/USD consolidates ahead of Fed
The EUR/USD is consolidating in a slim range within 1.3900 and 1.3935 with second-tier data having virtually no impact on the cross. Today the Fed concludes a 2-day meeting and besides the statement bank's officials will update their GDP, unemployment and core PCE forecasts. Most analysts are expecting the Fed to continue tapering QE by $10 billion and all eyes remain on Yellen which is due to address her first news conference as chair later in the day.
EUR/USD technical levels
The EUR/USD is currently trading at the 1.3915 zone, 0.1% below its opening price with immediate supports lining up at 1.3900 (psychological levels) and 1.3880 (Mar 18 low), while resistances are seen at 1.3935 (Mar 19 high) and 1.3947 (Mar 17 high) and 1.3967 (2014 high Mar 13).