18 Sep 2013
EUR/USD bid post-Fed, 1.3500 closer
FXstreet.com (Edinburgh) -The shared currency keeps pushing higher on Wednesday, with the EUR/USD testing the upper band of the post-Fed spike in the 1.3480/90 region.
EUR/USD focus on Bernanke’s presser
Increasing buying interest is now propping up the pair’s upside, heading towards the critical resistance at 1.3500/20 as Chief Bernanke is holding his press conference. The Fed’s President informed that consumer prices are below the 2% threshold and the unemployment levels remains acceptable. He also stressed that the current economic conditions can’t afford scaling back the monthly purchases of bonds and that the stimulus programme is linked to the labour market. He also hinted that the initial rate hike could come when the jobless rate fall through 6.5%.
EUR/USD key levels
At the moment the pair is advancing 0.96% at 1.3488 with the next resistance at 1.3520 (high Feb.13) followed by 1.3598 (high Feb.5) and then 1.3660 (high Feb.4). On the flip side, a breakdown of 1.3453 (high Aug.20) would open the door to 1.3399 (high Aug.28) and finally 1.3385 (high Sep.16).
EUR/USD focus on Bernanke’s presser
Increasing buying interest is now propping up the pair’s upside, heading towards the critical resistance at 1.3500/20 as Chief Bernanke is holding his press conference. The Fed’s President informed that consumer prices are below the 2% threshold and the unemployment levels remains acceptable. He also stressed that the current economic conditions can’t afford scaling back the monthly purchases of bonds and that the stimulus programme is linked to the labour market. He also hinted that the initial rate hike could come when the jobless rate fall through 6.5%.
EUR/USD key levels
At the moment the pair is advancing 0.96% at 1.3488 with the next resistance at 1.3520 (high Feb.13) followed by 1.3598 (high Feb.5) and then 1.3660 (high Feb.4). On the flip side, a breakdown of 1.3453 (high Aug.20) would open the door to 1.3399 (high Aug.28) and finally 1.3385 (high Sep.16).