EUR/USD reaches fresh 10-day high

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The EUR/USD took another step higher and printed fresh 10-day highs as the greenback continues to decline after yesterday’s FOMC statement.



The Fed trimmed its bond purchases by extra $10 bn as expected, while issued a new set of quarterly forecasts for GDP, unemployment and inflation. At the end, the Fed sounded a tad more dovish than expected spurring expectations the bank will keep interest rate lows for some time.



The EUR/USD triggered stops on the break of 1.3600 and has climbed to 1.3642, recording its highest in 10 days during the European session. The pair has come a long way from the 1.3510 area where it bottomed out earlier this month.



EUR/USD levels to watch



At time of writing, the EUR/USD is trading at the 1.3635 zone, up 0.30% in the day. In terms of technical levels, next resistances are seen at 1.3662 (200-day SMA) and 1.3700 (psychological level), while supports could be found at 1.3573 (10-day SMA), 1.3535 (Jun 17 low) and 1.3500 (psychological level).



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