12 May 2015
EUR/USD treading water near 1.1230
FXStreet (Edinburgh) - The shared currency is now consolidating the daily upside vs. the greenback, with EUR/USD navigating the 1.1235/30 band.
EUR/USD indifferent to Williams’ speech
After climbing as high as 1.1278 during the European morning, the pair has surrendered part of those gains and is now attempting to stabilize around the mid-1.1200s.
In the meantime, the greenback keeps its composure following the speech by FOMC voting member J.Williams, who stressed that a rate hike could happen at any meeting. Williams argued the economy is ‘sound’, nearing full employment and with consumer prices gradually moving towards the 2% target. He admitted that the Fed is under no pressure to decide on rates lift-off now and that there are still plenty of data to come before the June meeting.
EUR/USD levels to watch
At the moment the pair is advancing 0.70% at 1.1233 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).
EUR/USD indifferent to Williams’ speech
After climbing as high as 1.1278 during the European morning, the pair has surrendered part of those gains and is now attempting to stabilize around the mid-1.1200s.
In the meantime, the greenback keeps its composure following the speech by FOMC voting member J.Williams, who stressed that a rate hike could happen at any meeting. Williams argued the economy is ‘sound’, nearing full employment and with consumer prices gradually moving towards the 2% target. He admitted that the Fed is under no pressure to decide on rates lift-off now and that there are still plenty of data to come before the June meeting.
EUR/USD levels to watch
At the moment the pair is advancing 0.70% at 1.1233 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).