30 Apr 2014
EUR/USD flirting with 1.3880
FXStreet (Edinburgh) - The single currency is now picking up pace as the selling pressure is hurting the greenback, taking the EUR/USD just pips away from 1.3880.
EUR/USD focus on the FOMC meeting
Higher consumer prices in Euroland during April combined with disappointing US GDP figures in the first quarter are bolstering the current EUR bull run to the boundaries of 1.3880. The next risk event will be the FOMC meeting, with consensus pointing to an extra $10 billion taper. “The important take away from the inflation reports is that speculation that the ECB may initiate a QE program in May seems reduced”, commented analysts at BBH Global Currency Strategy Team.
EUR/USD levels to watch
As of writing the pair is advancing 0.41% at 1.3868 with the next hurdle at 1.3880 (high Apr.29) ahead of 1.3906 (high Apr.11) and finally 1.3935 (high Mar.19). On the other hand, a break below 1.3771 (low Apr.30) would target 1.3738 (low Apr.8) en route to 1.3729 (100-d MA).
EUR/USD focus on the FOMC meeting
Higher consumer prices in Euroland during April combined with disappointing US GDP figures in the first quarter are bolstering the current EUR bull run to the boundaries of 1.3880. The next risk event will be the FOMC meeting, with consensus pointing to an extra $10 billion taper. “The important take away from the inflation reports is that speculation that the ECB may initiate a QE program in May seems reduced”, commented analysts at BBH Global Currency Strategy Team.
EUR/USD levels to watch
As of writing the pair is advancing 0.41% at 1.3868 with the next hurdle at 1.3880 (high Apr.29) ahead of 1.3906 (high Apr.11) and finally 1.3935 (high Mar.19). On the other hand, a break below 1.3771 (low Apr.30) would target 1.3738 (low Apr.8) en route to 1.3729 (100-d MA).