FXStreet (Edinburgh) - The EUR-upside seems to have found strong resistance in the boundaries of 1.3570 on Wednesday, with the EUR/USD now deflating to the area of 1.3560.
EUR/USD firmer pre-FOMC
The pair is trading on a better mood today amidst absent docket in Euroland and while market participants wait for the FOMC meeting due in the European evening. “Although we are not expecting any significant departure from the current overall monetary policy stance, the fact that inflation in May has confirmed its sustained upward drift of recent months does at least generate more incentives for Mrs. Yellen to discuss more fully the timing of the first rate hike”, assessed Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD levels to watch
At the moment the pair is advancing 0.12% at 1.3563 and a surpass of 1.3573 (10-d MA) would expose 1.3587 (high Jun.17) and finally 1.3595 (Tenkan Sen). On the downside, the initial support aligns at 1.3512 (low Jun.12) followed by 1.3503 (low Jun.5) and then 1.3482 (low Feb.6).
EUR/USD firmer pre-FOMC
The pair is trading on a better mood today amidst absent docket in Euroland and while market participants wait for the FOMC meeting due in the European evening. “Although we are not expecting any significant departure from the current overall monetary policy stance, the fact that inflation in May has confirmed its sustained upward drift of recent months does at least generate more incentives for Mrs. Yellen to discuss more fully the timing of the first rate hike”, assessed Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD levels to watch
At the moment the pair is advancing 0.12% at 1.3563 and a surpass of 1.3573 (10-d MA) would expose 1.3587 (high Jun.17) and finally 1.3595 (Tenkan Sen). On the downside, the initial support aligns at 1.3512 (low Jun.12) followed by 1.3503 (low Jun.5) and then 1.3482 (low Feb.6).
