18 Sep 2013
EUR/USD clings to 1.3350
FXstreet.com (Córdoba) - The EUR/USD continues to tread water around 1.3350 as investors refrain from taking positions ahead of the Fed monetary policy decision.
EUR/USD consolidates ahead of FOMC
Expectations are that the Fed will proceed with a light taper ($10 billion/month to its current $85 billion program) but investors will be closely watching forward guidance. While today’s calendar includes US housing data at 12:30GMT, EUR/USD will likely remain in quiet consolidation until the FOMC statement.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at the 1.3350/55 zone, virtually unchanged since opening. As for technical levels, immediate resistances line up at 1.3370 (Sep 17 high) and 1.3385 (Sep 16 high) ahead of 1.3400 (psychological level). On the other hand, supports are seen at 1.3345 (daily low), 1.3320 (Sep 17 low) and 1.3300 (psychological level).
EUR/USD consolidates ahead of FOMC
Expectations are that the Fed will proceed with a light taper ($10 billion/month to its current $85 billion program) but investors will be closely watching forward guidance. While today’s calendar includes US housing data at 12:30GMT, EUR/USD will likely remain in quiet consolidation until the FOMC statement.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at the 1.3350/55 zone, virtually unchanged since opening. As for technical levels, immediate resistances line up at 1.3370 (Sep 17 high) and 1.3385 (Sep 16 high) ahead of 1.3400 (psychological level). On the other hand, supports are seen at 1.3345 (daily low), 1.3320 (Sep 17 low) and 1.3300 (psychological level).