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19 Feb 2014
EUR/USD dips to lows on FOMC
FXStreet (Edinburgh) - The single currency is now rapidly depreciating, dragging the EUR/USD to test the vicinity of 1.3730 in the wake of the FOMC minutes.
EUR/USD weaker on minutes
The Committee expects the US economy to keep expanding at a moderate pace although it sees risks that consumer prices could persist below the target. Members also said the Fed will change the rate guidance as unemployment decreases and that turmoil in the EM space could pose risks. Spot remains in the lower band of the intraday range although the 1.3730/20 area seems to be holding quite well so far.
EUR/USD relevant levels
At the moment the pair is losing 0.18% at 1.3732 and a breach of 1.3695 (low Feb.18) would target 1.3685 (low Feb.17) en route to 1.3674 (low Feb.14). On the upside, the next resistance lines up at 1.3773 (high Feb.19) followed by 1.3777 (2014 high Jan.2) and then 1.3796 (76.4% of 1.3894-1.3477).
EUR/USD weaker on minutes
The Committee expects the US economy to keep expanding at a moderate pace although it sees risks that consumer prices could persist below the target. Members also said the Fed will change the rate guidance as unemployment decreases and that turmoil in the EM space could pose risks. Spot remains in the lower band of the intraday range although the 1.3730/20 area seems to be holding quite well so far.
EUR/USD relevant levels
At the moment the pair is losing 0.18% at 1.3732 and a breach of 1.3695 (low Feb.18) would target 1.3685 (low Feb.17) en route to 1.3674 (low Feb.14). On the upside, the next resistance lines up at 1.3773 (high Feb.19) followed by 1.3777 (2014 high Jan.2) and then 1.3796 (76.4% of 1.3894-1.3477).