18 Jun 2014
EUR/USD keeps pushing higher
FXStreet (Córdoba) - The EUR/USD has kept moving slowly but steadily higher throughout the European session, extending to fresh daily highs after a positive opening in Wall Street as investors await the Federal Reserve policy decision.
Even though no surprises are expected, investors will be watching a new set of forecasts for unemployment, inflation, economic growth and the benchmark federal funds rate looking for any sign of when the central bank plans to start a hiking cycle.
The EUR/USD has reached a peak of 1.3578 at the New York opening, having already erased yesterday’s losses. At time of writing the pair is trading at 1.3570, up 0.18% on the day.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet noted that rangebound trade might prevail over the next few hours ahead of the FOMC statement, with a break above 1.3580 favoring a run towards 1.3640/5, and a break lower pointing for a test of 1.3476, 2014 low.
Bednarik locates next resistances levels at 1.3580, 1.3645 and 1.3675, while she places supports at 1.3510, 1.3475 and 1.3440.
Even though no surprises are expected, investors will be watching a new set of forecasts for unemployment, inflation, economic growth and the benchmark federal funds rate looking for any sign of when the central bank plans to start a hiking cycle.
The EUR/USD has reached a peak of 1.3578 at the New York opening, having already erased yesterday’s losses. At time of writing the pair is trading at 1.3570, up 0.18% on the day.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet noted that rangebound trade might prevail over the next few hours ahead of the FOMC statement, with a break above 1.3580 favoring a run towards 1.3640/5, and a break lower pointing for a test of 1.3476, 2014 low.
Bednarik locates next resistances levels at 1.3580, 1.3645 and 1.3675, while she places supports at 1.3510, 1.3475 and 1.3440.