21 Aug 2013
EUR/USD wavers as investors assess minutes
FXstreet.com (Córdoba) - Following the knee-jerk reaction to the FOMC minutes, the EUR/USD bounced back to pre-minutes levels as investors continue to assess the report.
EUR/USD shaken by FOMC minutes
The minutes provided no clear signal on when the Fed will begin to taper its monthly bond-buying program. If anything, Fed minutes showed members remain split whether the central bank should slow the pace of asset purchases and the appropriate timing.
EUR/USD oscillated sharply following the minutes, falling to the 1.3335 area and then bouncing to 1.3395, where the 20-hour SMA halted the recovery. At time of writing, EUR/USD is trading at the 1.3365 zone, roughly the same level it was before the publication and 0.4% below its opening price.
EUR/USD technical levels
As for technical levels, next support are seen at 1.3335 (daily low) and 1.3325 (Aug 20 low/200-hour SMA) ahead of 1.3300 (psychological level). On the other hand, a break above 1.3427 (Aug 21 high) would aim for 1.3451 (Aug 20 high) and 1.3455 (Feb 14 high).
EUR/USD shaken by FOMC minutes
The minutes provided no clear signal on when the Fed will begin to taper its monthly bond-buying program. If anything, Fed minutes showed members remain split whether the central bank should slow the pace of asset purchases and the appropriate timing.
EUR/USD oscillated sharply following the minutes, falling to the 1.3335 area and then bouncing to 1.3395, where the 20-hour SMA halted the recovery. At time of writing, EUR/USD is trading at the 1.3365 zone, roughly the same level it was before the publication and 0.4% below its opening price.
EUR/USD technical levels
As for technical levels, next support are seen at 1.3335 (daily low) and 1.3325 (Aug 20 low/200-hour SMA) ahead of 1.3300 (psychological level). On the other hand, a break above 1.3427 (Aug 21 high) would aim for 1.3451 (Aug 20 high) and 1.3455 (Feb 14 high).