28 Apr 2015
EUR/USD remains capped by 1.1000
FXStreet (Edinburgh) - The single currency is now looking to stabilize below the psychological mark at 1.1000 on Tuesday, with EUR/USD hovering over 1.0980/85.
EUR/USD focus on the FOMC meeting
Spot is advancing for the second consecutive session so far, although the current strong upside will be put to test tomorrow, as the FOMC will hold its monetary policy meeting. Despite there won’t be a press conference, market participants will scrutinize the statement looking for cues regarding the probable timing of the rates lift-off, all against the backdrop of poor US results as of late.
Preceding the FOMC event, EMU’s credit figures, Business Climate, Economic Sentiment and preliminary inflation figures in Germany are also to be published in the region, while the first revision of the US GDP Annualized during Q1 and PCE will be released across the pond.
EUR/USD levels to consider
At the moment the pair is advancing 0.85% at 1.0984 with the next resistance at 1.1000 (psychological level) ahead of 1.1036 (high Apr.6) and finally 1.1062 (high Mar.18). On the downside, a breach of 1.0860 (low Apr.28) would target 1.0819 (low Apr.27) en route to 1.0789 (low Apr.24).
EUR/USD focus on the FOMC meeting
Spot is advancing for the second consecutive session so far, although the current strong upside will be put to test tomorrow, as the FOMC will hold its monetary policy meeting. Despite there won’t be a press conference, market participants will scrutinize the statement looking for cues regarding the probable timing of the rates lift-off, all against the backdrop of poor US results as of late.
Preceding the FOMC event, EMU’s credit figures, Business Climate, Economic Sentiment and preliminary inflation figures in Germany are also to be published in the region, while the first revision of the US GDP Annualized during Q1 and PCE will be released across the pond.
EUR/USD levels to consider
At the moment the pair is advancing 0.85% at 1.0984 with the next resistance at 1.1000 (psychological level) ahead of 1.1036 (high Apr.6) and finally 1.1062 (high Mar.18). On the downside, a breach of 1.0860 (low Apr.28) would target 1.0819 (low Apr.27) en route to 1.0789 (low Apr.24).