9 Apr 2014
EUR/USD eyes 1.3860 on minutes
FXStreet (Edinburgh) - The euro is gathering traction again on Wednesday, lifting the EUR/USD to levels shy of 1.3860 as FOMC minutes fail to revitalize the greenback.
EUR/USD extends its march higher
Spot is prolonging its recent upside and consolidating the ascent beyond 1.3800 the figure on Wednesday, buoyed by the hawkish tone from the FOMC minutes. The Committee informed that forecasts overstated the rate rise pace, making no reference regarding the rate hike timing. Members also see consumer prices creeping back to the 2% Fed’s target.
EUR/USD levels to consider
As of writing the pair is up 0.35% at 1.3846 with the next resistance at 1.3867 (61.8% of 1.3967-1.3704) ahead of 1.3800 (psychological level). On the downside, a breach of 1.3780 (low Apr.9) would open the door to 1.3759 (10-d MA) and finally 1.3738 (low Apr.8).
EUR/USD extends its march higher
Spot is prolonging its recent upside and consolidating the ascent beyond 1.3800 the figure on Wednesday, buoyed by the hawkish tone from the FOMC minutes. The Committee informed that forecasts overstated the rate rise pace, making no reference regarding the rate hike timing. Members also see consumer prices creeping back to the 2% Fed’s target.
EUR/USD levels to consider
As of writing the pair is up 0.35% at 1.3846 with the next resistance at 1.3867 (61.8% of 1.3967-1.3704) ahead of 1.3800 (psychological level). On the downside, a breach of 1.3780 (low Apr.9) would open the door to 1.3759 (10-d MA) and finally 1.3738 (low Apr.8).