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20 May 2015
EUR/USD around 1.1100 on FOMC
FXStreet (Edinburgh) - EUR/USD remains within the daily range following the release of the FOMC minutes, currently navigating sub-1.1100 levels.
EUR/USD keeps the red on minutes
The pair is unable to generate any traction after the Committee reported that many officials have seen a rate hike in June as unlikely, while most members have remarked that risks to the outlook remain balanced.
In addition, most members expect growth to resume its pace after Q1 transitory headwinds, while the level of the USD would be a ‘temporal’ drag on economic growth.
EUR/USD relevant levels
As of writing the pair is down 0.50% at 1.1095 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).
EUR/USD keeps the red on minutes
The pair is unable to generate any traction after the Committee reported that many officials have seen a rate hike in June as unlikely, while most members have remarked that risks to the outlook remain balanced.
In addition, most members expect growth to resume its pace after Q1 transitory headwinds, while the level of the USD would be a ‘temporal’ drag on economic growth.
EUR/USD relevant levels
As of writing the pair is down 0.50% at 1.1095 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).