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Forex pairs in this Article » EUR/USD (Barcelona) - The upbeat tone surrounding the single currency is far from over on Wednesday, as we get closer to the FOMC statement. Although market participants expect no changes in the underlying monetary policy, slight changes in the wording could alter the scenario and prompt bouts of volatility.

Christian Lawrence, analyst at Rabobank, assessed, "& while we remain of the view that central banks will continue to support risk appetite this year and EURUSD will retain an upwards bias we would also warn that there is potential for pullbacks and investors should remain on their toes".

As of writing, EURUSD is advancing 0.59% at 1.3572 with the next resistance at 1.3581 (Upper Bollinger) ahead of 1.3615 (high Nov.18 2011) and then 1.3641 (high Nov.15).
On the downside, a breach of 1.3498 (high Jan.29) would aim for 1.3415 (low Jan.29) and then 1.3392 (MA10d).
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