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18 Jun 2013
EUR/USD closing the day around 1.3400
FXstreet.com (Edinburgh) - The EUR/USD is stabilising around the key level at 1.3400 on Tuesday, as we enter the last part of the session in Wall Street.
EUR/USD ready for the FOMC
Big day for the shared currency on Wednesday, as the 2-day FOMC meeting will finish with the most-waited announcements by Chairman Bernanke regarding the likeliness (or not) of the Fed scaling back its monthly asset purchases. In the opinion of Christopher Vecchio, Currency Analyst at DailyFX, “if the Fed signals tomorrow that it will sustain a high pace of QE3 (>$70B/month), yields are due for a snapback as investors run back to the “QE-on” trade: stronger US equities; stronger US bonds; and a weaker US Dollar”.
EUR/USD levels to watch
At the moment the pair is up 0.24% at 1.3401 and a break above 1.3434 (high Feb.20) would target 1.3456 (high Feb.14) en route to 1.3481 (76.4% of 1.3711-1.2740). On the flip side, support levels align at 1.3295 (low Jun.14) followed by 1.3279 (low Jun.13) and finally 1.3266 (low Jun.12).
EUR/USD ready for the FOMC
Big day for the shared currency on Wednesday, as the 2-day FOMC meeting will finish with the most-waited announcements by Chairman Bernanke regarding the likeliness (or not) of the Fed scaling back its monthly asset purchases. In the opinion of Christopher Vecchio, Currency Analyst at DailyFX, “if the Fed signals tomorrow that it will sustain a high pace of QE3 (>$70B/month), yields are due for a snapback as investors run back to the “QE-on” trade: stronger US equities; stronger US bonds; and a weaker US Dollar”.
EUR/USD levels to watch
At the moment the pair is up 0.24% at 1.3401 and a break above 1.3434 (high Feb.20) would target 1.3456 (high Feb.14) en route to 1.3481 (76.4% of 1.3711-1.2740). On the flip side, support levels align at 1.3295 (low Jun.14) followed by 1.3279 (low Jun.13) and finally 1.3266 (low Jun.12).