Back
10 Apr 2013
Forex: EUR/USD toying with 1.3100, FOMC eyed
FXstreet.com (Barcelona) - The bloc currency is flirting once again with the key 1.3100 figure on Wednesday, as markets participants left behind the poor industrial data from Spain and Italy and are now focusing on the FOMC minutes due in the European evening.
“As the economic recovery gradually gathers pace, we should see the FOMC slowly move away from its easing cycle, and the shift in the policy outlook should prop up the greenback over the near to medium-term as the central bank drops its dovish tone for monetary policy”, assessed David Song, Currency Analyst at DailyFX.
At the moment, the cross is advancing 0.11% at 1.3099 and a surpass of 1.3135 (high Mar.8) would expose 1.3163 (high Feb.28) and finally 1.3229 (50% of Feb-Apr slide).
On the downside support levels align at 1.3006 (low Apr.9) ahead of 1.2963 (low Apr.8) and then 1.2928 (MA10d).
“As the economic recovery gradually gathers pace, we should see the FOMC slowly move away from its easing cycle, and the shift in the policy outlook should prop up the greenback over the near to medium-term as the central bank drops its dovish tone for monetary policy”, assessed David Song, Currency Analyst at DailyFX.
At the moment, the cross is advancing 0.11% at 1.3099 and a surpass of 1.3135 (high Mar.8) would expose 1.3163 (high Feb.28) and finally 1.3229 (50% of Feb-Apr slide).
On the downside support levels align at 1.3006 (low Apr.9) ahead of 1.2963 (low Apr.8) and then 1.2928 (MA10d).