19 Aug 2015
EUR/USD consolidates post-FOMC minutes gains
FXStreet (Córdoba) - EUR/USD entered a consolidation phase near highs above 1.1100 after rallying nearly 80 pips on the back of FOMC minutes.
EUR/USD is currently trading at the 1.1125 zone, recording a 0.92% gain on Wednesday, having scored a peak of 1.1133 in recent dealings.
Fed gives mixed signals
The Federal Reserve minutes showed the most officials believe conditions are approaching the appropriate point to raise rates, but offered no signs of an imminent September liftoff. Earlier on Wednesday, data showed inflation remains soft. US CPI rose 0.2% the headline and 1.8% the core YoY.
ESM gives green light to Greek bailout
Meanwhile, on the other side of the Atlantic, the European Stability Mechanism /ESM) board agreed the programme for the €86bn bailout package to Greece, with the first disbursement of €13 billion as soon as tomorrow.
EUR/USD technical levels
In terms of technical levels, immediate resistances could be found at 1.1133 (Aug 19 high), 1.1188 (Aug 13 & 14 highs) and 1.1213 (Aug 12 high). On the downside, supports are seen at 1.1017 (Aug 18 & 19 lows), 1.1000 (psychological level) and 1.0960 (Aug 11 low).
EUR/USD is currently trading at the 1.1125 zone, recording a 0.92% gain on Wednesday, having scored a peak of 1.1133 in recent dealings.
Fed gives mixed signals
The Federal Reserve minutes showed the most officials believe conditions are approaching the appropriate point to raise rates, but offered no signs of an imminent September liftoff. Earlier on Wednesday, data showed inflation remains soft. US CPI rose 0.2% the headline and 1.8% the core YoY.
ESM gives green light to Greek bailout
Meanwhile, on the other side of the Atlantic, the European Stability Mechanism /ESM) board agreed the programme for the €86bn bailout package to Greece, with the first disbursement of €13 billion as soon as tomorrow.
EUR/USD technical levels
In terms of technical levels, immediate resistances could be found at 1.1133 (Aug 19 high), 1.1188 (Aug 13 & 14 highs) and 1.1213 (Aug 12 high). On the downside, supports are seen at 1.1017 (Aug 18 & 19 lows), 1.1000 (psychological level) and 1.0960 (Aug 11 low).