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Forex pairs in this Article » EUR/USD, USD/JPY
FXstreet.com (Moscow) - Despite the volatility in yen crosses and sharp moves of the CAD, EUR/USD showed only slight move higher reaching 1.3634 from 1.3615 at the open.

FOMC minutes may support the USD

Such a moderate behavior of EUR/USD related not only to nearing resistance at 1.3648, but also to nearing currency market events. After a relatively barren economic calendar we finally reached the first milestone of potentially high volatility. Despite rather insignificant data from Europe we may see some positioning flows before the FOMC minutes release. Given the key developments of the last FED meeting, the investors may load the shorts on EUR/USD expecting some optimistic comments within the statement. As such, there is a big potential to see the move lower to the nearest support level. At the moment the pair may try to come closer to the nearest resistance at 1.3648, and then during the end of European session start the rebound with short-term target at 1.3588.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3623, with support below at 1.3588 (S1), 1.3563 (S2) and 1.3528 (S3), with resistance above at 1.3648 (R1), 1.3683 (R2), and 1.3708 (R3). Hourly Moving Averages are largely bearish, with the 200SMA at 1.3703 and the daily 20EMA bearish at 1.3677. Hourly RSI is neutral at 50.
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