19 Aug 2015
EUR/USD through 1.1100 on mixed FOMC minutes
FXStreet (Edinburgh) - The shared currency is now gathering pace vs. the US dollar, pushing EUR/USD to session highs above 1.1100 the figure.
EUR/USD firmer post-FOMC
The pair’s upside is gaining further momentum today after a mixed tone from the FOMC minutes showed officials noting ‘nearly balanced’ risks to economic growth and laboour market, while many officials saw downside risks stemming from developments overseas, particularly China.
Regarding inflation, many officials saw diminishing downside pressure from commodities and dollar, while consumer spending remains on track to expand moderately. Furthermore, the Committee now sees consumer prices running below the 2% threshold during 2016 and 2017.
EUR/USD levels to watch
As of writing the pair is up 0.86% at 1.1118 with the next resistance at 1.1190 (high Aug.13) followed by 1.1200 (psychological level) and finally 1.1215 (high Aug.12). On the flip side, a breach of 1.1017 (low Aug.18) would target 1.0961 (low Aug.11) en route to 1.0925 (low Aug.10).
EUR/USD firmer post-FOMC
The pair’s upside is gaining further momentum today after a mixed tone from the FOMC minutes showed officials noting ‘nearly balanced’ risks to economic growth and laboour market, while many officials saw downside risks stemming from developments overseas, particularly China.
Regarding inflation, many officials saw diminishing downside pressure from commodities and dollar, while consumer spending remains on track to expand moderately. Furthermore, the Committee now sees consumer prices running below the 2% threshold during 2016 and 2017.
EUR/USD levels to watch
As of writing the pair is up 0.86% at 1.1118 with the next resistance at 1.1190 (high Aug.13) followed by 1.1200 (psychological level) and finally 1.1215 (high Aug.12). On the flip side, a breach of 1.1017 (low Aug.18) would target 1.0961 (low Aug.11) en route to 1.0925 (low Aug.10).