The unsuccessful attempt to overcome the 1.1290/1.1300 band has relegatedEUR/USD to return to the 1.1270 region towards the end of the NA session.
EUR/USD eyes on the Fed
The next FOMC meeting on Wednesday is poised to be the hardest obstacle for any recovery in the pair, at least in the near term. Despite there won’t be economic projections or a press conference by Chairwoman Yellen, market participants will remain vigilant regarding the wording of the statement. The timing of the first rate hike in the US economy continues to drive market expectations, while the recent lower prints from the US CPI and the decline in crude oil prices could constitute a renewed source of concern.
EUR/USD key levels
At the moment the pair is advancing 0.52% at 1.1267 and a breakout of 1.1300 (psychological level) would expose 1.1376 (high Jan.23) and then 1.1472 (Tenkan Sen). On the downside, the next support lines up at 1.1098 (hourly low Jan.26) followed by 1.1047 (low Sep.8 2003) and then 1.1000 (psychological level).
EUR/USD eyes on the Fed
The next FOMC meeting on Wednesday is poised to be the hardest obstacle for any recovery in the pair, at least in the near term. Despite there won’t be economic projections or a press conference by Chairwoman Yellen, market participants will remain vigilant regarding the wording of the statement. The timing of the first rate hike in the US economy continues to drive market expectations, while the recent lower prints from the US CPI and the decline in crude oil prices could constitute a renewed source of concern.
EUR/USD key levels
At the moment the pair is advancing 0.52% at 1.1267 and a breakout of 1.1300 (psychological level) would expose 1.1376 (high Jan.23) and then 1.1472 (Tenkan Sen). On the downside, the next support lines up at 1.1098 (hourly low Jan.26) followed by 1.1047 (low Sep.8 2003) and then 1.1000 (psychological level).
