26 Jan 2015
EUR/USD toying with 1.1300
FXStreet (Edinburgh) - The sentiment towards the risk appetite continues to gather traction on Monday, now pushing EUR/USD to session highs around 1.1290.
EUR/USD eyes on FOMC
Apart from the German IFO today, there are no relevant releases in the euro area during the first half of the week, with all the focus on the FOMC gathering due on Wednesday. Market participants will be scrutinizing the Committee’s statement - no press conference or economic projections this time - looking for clues regarding the start of the hiking cycle in the US economy, especially against the backdrop of recent lower CPI and the significant drop in crude oil prices.
EUR/USD key levels
At the moment the pair is advancing 0.66% at 1.1283 and a breakout of 1.1300 (psychological level) would expose 1.1376 (high Jan.23) and then 1.1472 (Tenkan Sen). On the downside, the next support lines up at 1.1098 (hourly low Jan.26) followed by 1.1047 (low Sep.8 2003) and then 1.1000 (psychological level).
EUR/USD eyes on FOMC
Apart from the German IFO today, there are no relevant releases in the euro area during the first half of the week, with all the focus on the FOMC gathering due on Wednesday. Market participants will be scrutinizing the Committee’s statement - no press conference or economic projections this time - looking for clues regarding the start of the hiking cycle in the US economy, especially against the backdrop of recent lower CPI and the significant drop in crude oil prices.
EUR/USD key levels
At the moment the pair is advancing 0.66% at 1.1283 and a breakout of 1.1300 (psychological level) would expose 1.1376 (high Jan.23) and then 1.1472 (Tenkan Sen). On the downside, the next support lines up at 1.1098 (hourly low Jan.26) followed by 1.1047 (low Sep.8 2003) and then 1.1000 (psychological level).