10 Jul 2013
EUR/USD eyes 1.2900 on FOMC minutes
FXstreet.com (Edinburgh) - The greenback is extending its corrective upside on Wednesday, hovering over 1.2900 the figure and posting fresh intraday highs at the same time.
EUR/USD upside holding
According to the minutes, some FOMC members saw QE tapering in the near-term while more improvement in the economy is needed according to other members. The Committee also expects the unemployment rate to gradually tick lower.
EUR/USD levels to watch
The euro is now up 0.67% vs. the greenback at 1.2867 and a surpass of 1.2898 (high Jul.9) would target 1.2912 (23.6% of 1.3417-1.2755) en route to 1.2916 (high Jul.5). On the flip side, support levels align at 1.2765 (weekly cloud base) ahead of 1.2755 (low Jul.9) and finally 1.2740 (2013 low Apr.4).
EUR/USD upside holding
According to the minutes, some FOMC members saw QE tapering in the near-term while more improvement in the economy is needed according to other members. The Committee also expects the unemployment rate to gradually tick lower.
EUR/USD levels to watch
The euro is now up 0.67% vs. the greenback at 1.2867 and a surpass of 1.2898 (high Jul.9) would target 1.2912 (23.6% of 1.3417-1.2755) en route to 1.2916 (high Jul.5). On the flip side, support levels align at 1.2765 (weekly cloud base) ahead of 1.2755 (low Jul.9) and finally 1.2740 (2013 low Apr.4).