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Forex pairs in this Article » EUR/USD (Barcelona) - Having largely ranged overnight, posting a high at 1.3733, and a low at 1.3761, EUR/USD has pushed higher into the European open to post a fresh daily high at 1.3776.

EUR/USD near term focus on German IFO

Overnight saw a pickup in Japanese Exports and Merchandise Trade Balance, and a small dip in Imports, alongside improving Chinese Housing, Business Sentiment and Leading Economic Indicator numbers. On what is proving to be a hotly anticipated day in the market, early door focus will be on German IFO numbers, with analysts expecting a small improvement on previous data. This evening brings the headline event however, with the final FOMC meet under the stewardship of Ben Bernanke. All eyes will be on the key question, whether to taper on not.

What are today’s key EUR/USD levels?

Today’s central pivot point is at 1.3757, with support below at 1.3729 (S1), 1.3695 (S2) and 1.3667 (S3), and resistance above at 1.3791 (R1), 1.3819 (R2) and 1.3853 (R3). Matt Bacon-Hall of FXBeat highlights upcoming resistance at 1.3800 where buy stops commence, and support below at 1.3710-00 where light bids are clustered. To the upside, the range between 1.3775-3809 has several technical levels clustered and could offer resistance.
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