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27 Jan 2016
EUR/USD clings to gains above 1.0870, FOMC eyed
FXStreet (Edinburgh) - The shared currency remains in the positive ground vs. the dollar on Wednesday, taking EUR/USD to the 1.0870/75 band.
EUR/USD cautious ahead of FOMC
Spot is advancing for the third consecutive session so far, extending the rebound from post-ECB troughs in sub-1.0800 levels recorded last week. The risk aversion theme continue to rule the sentiment amongst traders for the time being, while cautiousness is growing bigger ahead of the FOMC meeting due later in the NA session.
Market expectations see the Committee keeping the Fed Funds unchanged today and a cautious tone from the statement, while another rate hike is seen at the March meeting.
EUR/USD levels to watch
The pair is now advancing 0.15% at 1.0876 and a breakout of 1.0981 (100-day sma) would target 1.1055 (200-day sma) en route to 1.1059 (high Dec.15). On the flip side, the immediate support aligns at 1.0777 (post-ECB low Jan.21) followed by 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).
Trade Federal Reserve interest rate decision with FXStreet - Live Coverage
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EUR/USD cautious ahead of FOMC
Spot is advancing for the third consecutive session so far, extending the rebound from post-ECB troughs in sub-1.0800 levels recorded last week. The risk aversion theme continue to rule the sentiment amongst traders for the time being, while cautiousness is growing bigger ahead of the FOMC meeting due later in the NA session.
Market expectations see the Committee keeping the Fed Funds unchanged today and a cautious tone from the statement, while another rate hike is seen at the March meeting.
EUR/USD levels to watch
The pair is now advancing 0.15% at 1.0876 and a breakout of 1.0981 (100-day sma) would target 1.1055 (200-day sma) en route to 1.1059 (high Dec.15). On the flip side, the immediate support aligns at 1.0777 (post-ECB low Jan.21) followed by 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).
Trade Federal Reserve interest rate decision with FXStreet - Live Coverage
Trade the US GDP with FXStreet - Live Coverage