16 Sep 2014
The 1.3000 said No; but EUR/USD holds at 200 hour MA
The EUR/USD is currently trading at the 200 hours MA level of 1.2960 where the pair remains quiet after being rejected by the 1.3000 area.
Earlier in the day, the EUR/USD jumped from 1.2935 to price at highs since September 4 amid news from China boosting liquidity in banks and an article of Hilsenrath that said the Fed is far from hike rates.
EUR/USD sentiment
Focused on the FOMC meeting tomorrow, the EUR/USD will likely maintain the range, according to Valeria Bednarik, FXStreet.com chief analyst, when market will finally decide “whether to extend the bearish trend or begin a stronger upward corrective move.”
Above the 1.3000, the pair will have a long route with no significant resistances; however levels to take in count are 1.3110 and 1.3150. On the downside, supports are at 1.2900, 1.2880 and 1.2860.
Earlier in the day, the EUR/USD jumped from 1.2935 to price at highs since September 4 amid news from China boosting liquidity in banks and an article of Hilsenrath that said the Fed is far from hike rates.
EUR/USD sentiment
Focused on the FOMC meeting tomorrow, the EUR/USD will likely maintain the range, according to Valeria Bednarik, FXStreet.com chief analyst, when market will finally decide “whether to extend the bearish trend or begin a stronger upward corrective move.”
Above the 1.3000, the pair will have a long route with no significant resistances; however levels to take in count are 1.3110 and 1.3150. On the downside, supports are at 1.2900, 1.2880 and 1.2860.