Back
20 Mar 2013
Forex: EUR/USD sticks to 1.2950/60 on Fed decision
FXstreet.com (Barcelona) - The single currency quickly climbed to the area of 1.2980 in the wake of the Fed’s interest rate decision - leaving rates unchanged at 0.25% - just to fall back to the area around 1.2945/55 at the moment.
The FOMC will also keep the monthly pace of $85 billion of bond purchases and it stated that rates would be at exceptionally low levels until unemployment hits 6.5%.
While markets wait for B.Bernanke’s press conference, the cross is up.065% at 1.2953 facing the next resistance at 1.2973 (high Mar.20) ahead of 1.2980 (MA200h) and finally 1.3046 (MA21d).
On the flip side, a break below 1.2900 (intraday support) would expose 1.2844 (low Mar.19) en route to 1.2827 (low Nov.22).
The FOMC will also keep the monthly pace of $85 billion of bond purchases and it stated that rates would be at exceptionally low levels until unemployment hits 6.5%.
While markets wait for B.Bernanke’s press conference, the cross is up.065% at 1.2953 facing the next resistance at 1.2973 (high Mar.20) ahead of 1.2980 (MA200h) and finally 1.3046 (MA21d).
On the flip side, a break below 1.2900 (intraday support) would expose 1.2844 (low Mar.19) en route to 1.2827 (low Nov.22).