25 Jul 2013
EUR/USD jumps on Fed rumors
FXstreet.com (San Francisco) - The Euro is currently trading higher against the US Dollar as the Greenback has been hit by rumors about the Federal reserve would keep its $85Bn monthly rate of its bond buying program in the next week policy meeting.
The EUR/USD has jumped around 40 pips in matter of minutes from 1.3235 to break above the 1.3250 area and reach highest level since June 19th at 1.3280.
Currently, the EUR/USD is trading at 1.3275, 0.57% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing higher while the Stochastic is bearish.
To the upside, the pair will face resistances at 1.3280, 1.3295/1.3300 and 1.3320. On the downside, supports are at 1.3200, 1.3165 and 1.3150.
The EUR/USD has jumped around 40 pips in matter of minutes from 1.3235 to break above the 1.3250 area and reach highest level since June 19th at 1.3280.
Currently, the EUR/USD is trading at 1.3275, 0.57% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing higher while the Stochastic is bearish.
To the upside, the pair will face resistances at 1.3280, 1.3295/1.3300 and 1.3320. On the downside, supports are at 1.3200, 1.3165 and 1.3150.