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27 Jan 2015
EUR/USD consolidates below 1.1400
FXStreet (Edinburgh) - The shared currency is closing another day of gains, with EUR/USD now inching higher towards the 1.1370/75 band.
EUR/USD eyes on the FOMC
The bid tone around the EUR remains well and sound at the end of the NA session on Tuesday, while markets get ready for the key FOMC meeting due tomorrow. Extreme net short positioning is combining with a resurgence of the risk appetite trends, allowing the current rally in the euro, although the bull run lost impetus above 1.1420.
Moving forwards to tomorrow’s calendar in the euro area, Germany will be in the limelight during the European session, as the Consumer Confidence gauge by the Gfk Survey and Import Prices will be published. Across the pond, it will be all about the FOMC meeting, with opinions still quite divided regarding the tone of the statement.
EUR/USD key levels
At the moment the pair is advancing 0.92% at 1.1366 and a breakout 1.1423 (high Jan.27) would expose 1.1458 (61.8% of 1.1680-1.1098) and finally 1.1492 (10-d MA). On the flip side, the immediate support lines up at 1.1224 (hourly low Jan.27) ahead of 1.1098 (11-year low Jans.26) and then 1.1047 (low Sep.8 2003).
EUR/USD eyes on the FOMC
The bid tone around the EUR remains well and sound at the end of the NA session on Tuesday, while markets get ready for the key FOMC meeting due tomorrow. Extreme net short positioning is combining with a resurgence of the risk appetite trends, allowing the current rally in the euro, although the bull run lost impetus above 1.1420.
Moving forwards to tomorrow’s calendar in the euro area, Germany will be in the limelight during the European session, as the Consumer Confidence gauge by the Gfk Survey and Import Prices will be published. Across the pond, it will be all about the FOMC meeting, with opinions still quite divided regarding the tone of the statement.
EUR/USD key levels
At the moment the pair is advancing 0.92% at 1.1366 and a breakout 1.1423 (high Jan.27) would expose 1.1458 (61.8% of 1.1680-1.1098) and finally 1.1492 (10-d MA). On the flip side, the immediate support lines up at 1.1224 (hourly low Jan.27) ahead of 1.1098 (11-year low Jans.26) and then 1.1047 (low Sep.8 2003).