Filed Under:
Forex pairs in this Article » EUR/USD (Edinburgh) - The selling pressure is now sharpening in the shared currency, dragging the EUR/USD to test session lows around 1.3635/30.

EUR/USD softer pre-FOMC

The pair is now threatening to breach weekly lows posted on Tuesday just below 1.3630, as the greenback continues to gather traction ahead of the FOMC gathering. “We rather think the Fed will stay focused on the domestic economy—stronger and no longer in need of emergency support—and stay the course on reducing asset purchases established at the December meeting”, observed Shaun Osborne, Chief FX Strategist at TD Securities.

EUR/USD levels to consider

As of writing the pair is losing 0.23% at 1.3637 and a break below 1.3620 (10-d MA) would open the door to 1.3594 (100-d MA) and then 1.3564 (daily cloud base). On the upside, the initial barrier lies at 1.3689 (high Jan.28) followed by 1.3716 (high Jan.27) ahead of 1.3740 (high Jan.24).
comments powered by Disqus