Back
19 Jun 2013
EUR/USD plummeting to 1.3280
FXstreet.com (Edinburgh) - The EUR/USD is accelerating its decline post-FOMC statement, quickly leaving behind the 1.3300 support, and posting fresh multi-day lows around 1.3280.
EUR/USD dragged by FOMC optimism
The statement by Chairman Bernanke kept the upbeat tone, stating that the Fed would be ready to scale back its monthly purchases if the US data accompanies, although he stressed that this not necessarily means a rate hike, just a change in the pace of the bond buying. Bernanke also commented on the progress of the housing sector, highlighting its relevance for the US economic growth.
EUR/USD levels to watch
At the moment the pair is losing 0.82% at 1.3281 and a breakdown of 1.3202 (mid April high) would expose 1.3177 (low Jun.10). On the flip side, resistance levels line up at 1.3404 (high Jan.14) ahead of 1.3434 (high Feb.20).
EUR/USD dragged by FOMC optimism
The statement by Chairman Bernanke kept the upbeat tone, stating that the Fed would be ready to scale back its monthly purchases if the US data accompanies, although he stressed that this not necessarily means a rate hike, just a change in the pace of the bond buying. Bernanke also commented on the progress of the housing sector, highlighting its relevance for the US economic growth.
EUR/USD levels to watch
At the moment the pair is losing 0.82% at 1.3281 and a breakdown of 1.3202 (mid April high) would expose 1.3177 (low Jun.10). On the flip side, resistance levels line up at 1.3404 (high Jan.14) ahead of 1.3434 (high Feb.20).