31 Jul 2013
EUR/USD makes fresh 6-week highs
FXstreet.com (Córdoba) - The EUR/USD received a boost and finally pierced above the 1.3300 level after the Fed kept its policy unchanged but downgraded slightly its economic outlook.
EUR/USD underpinned by Fed statement
A more dovish than expected statement from the Fed, made investors question whether tapering will happen in September or later. Overall, the Fed highlights data dependency, so Friday's NFP report will be highly scrutinized.
EUR/USD shot up to a high of 1.3344 so far, rising past the 61.8% retracement of the broader 1.3710/1.2746 fall. At time of writing, EUR/USD is trading at the 1.3335 area, where it records a 0.6% gain on Wednesday following a great dose of volatility.
EUR/USD levels to watch
If EUR/USD breaks decisively above 1.3340, next resistances could be found at 1.3380 (Jun 17 high) and 1.3400 (psychological level). On the downside, supports are seen at 1.3240/50, followed by the 1.3210/00 area and 1.3165 (Jul 23 low).
EUR/USD underpinned by Fed statement
A more dovish than expected statement from the Fed, made investors question whether tapering will happen in September or later. Overall, the Fed highlights data dependency, so Friday's NFP report will be highly scrutinized.
EUR/USD shot up to a high of 1.3344 so far, rising past the 61.8% retracement of the broader 1.3710/1.2746 fall. At time of writing, EUR/USD is trading at the 1.3335 area, where it records a 0.6% gain on Wednesday following a great dose of volatility.
EUR/USD levels to watch
If EUR/USD breaks decisively above 1.3340, next resistances could be found at 1.3380 (Jun 17 high) and 1.3400 (psychological level). On the downside, supports are seen at 1.3240/50, followed by the 1.3210/00 area and 1.3165 (Jul 23 low).