30 Oct 2013
EUR/USD test lows on unchanged Fed
FXstreet.com (Edinburgh) - The single currency is now retracing initial gains on Wednesday, dragging the EUR/USD to test fresh session lows around 1.3730/25.
EUR/USD weaker on Fed
The pair is now rapidly depreciating against the greenback after the Fed left intact both the bond buying and the benchmark rate at $85 billion and 0.25%. Members also have seen improvement in the economy despite the recent fiscal developments. Regarding the timing of QE tapering, the Fed informed that more data is needed in order to start scaling back the monthly purchases of bonds.
EUR/USD key levels
The pair is now advancing 0.14% at 1.3765 with the next resistance at 1.3818 (high Oct.28) ahead of 1.3833 (2013 high Oct.25) and finally 1.3859 (high Nov.11 2011). On the flip side, a break below 1.3727 (MA10d) would expose the psychological level at 1.3700 followed by 1.3662 (low Oct.22).
EUR/USD weaker on Fed
The pair is now rapidly depreciating against the greenback after the Fed left intact both the bond buying and the benchmark rate at $85 billion and 0.25%. Members also have seen improvement in the economy despite the recent fiscal developments. Regarding the timing of QE tapering, the Fed informed that more data is needed in order to start scaling back the monthly purchases of bonds.
EUR/USD key levels
The pair is now advancing 0.14% at 1.3765 with the next resistance at 1.3818 (high Oct.28) ahead of 1.3833 (2013 high Oct.25) and finally 1.3859 (high Nov.11 2011). On the flip side, a break below 1.3727 (MA10d) would expose the psychological level at 1.3700 followed by 1.3662 (low Oct.22).