EUR/USD in ranges between 1.3535 and 1.3550

By FXstreet.com | June 17, 2014 AAA

FXStreet (Córdoba) - The EUR/USD remains steady during the American session, consolidating near daily lows. After falling following CPI data from the US, the pair bottomed at 1.3535 and then recovered slightly.



The rebound from daily lows found resistance quickly below 1.3550. In the last six hours it has been trading within a range with support at 1.3535 and resistance below 1.3550.



Will the FED break EUR/USD range?



Since a week ago the EUR/USD is moving sideways below 1.3600 and above 1.3500, stable after falling from levels near 1.40. On Wednesday the Federal Reserve will announce its decision on monetary policy and Janet Yellen will held a press conference.



“If Yellen surprises the market with a hawkish stance, then EURUSD will probably break below the strong support area between 1.3480 and 1.3500”, says Alberto Muñoz, Forex Analyst at FXStreet.



comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center