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17 May 2013
Forex: EUR/USD around 1.2860/65, EMU data eyed
FXstreet.com (Barcelona) - After an ephemeral attempt to the area of 1.2880/85, the shared currency returned to the comfort zone around 1.2860/65 on Friday, ahead of EMU’s Construction Output.
After yesterday’s comments by San Francisco’s Fed J.Williams regarding the chance that the Fed could exit from the current QE programme sooner than previously though, Senior Analyst Flemming Nielsen at Danske Bank commented, “If his comments are mirrored by more members in the Fed Minutes that will be published next week, it will most likely boost the dollar further”.
As of writing, the pair is losing 0.13% at 1.2864 with the next support at 1.2843 (low May 15) ahead of the psychological mark at 1.2800 and finally 1.2740 (2013 low Apr.14).
On the flip side, a breakout of 1.2930 (high May 16) would open the door to 1.2943 (high May 15) and then 1.3030 (high May 14).
After yesterday’s comments by San Francisco’s Fed J.Williams regarding the chance that the Fed could exit from the current QE programme sooner than previously though, Senior Analyst Flemming Nielsen at Danske Bank commented, “If his comments are mirrored by more members in the Fed Minutes that will be published next week, it will most likely boost the dollar further”.
As of writing, the pair is losing 0.13% at 1.2864 with the next support at 1.2843 (low May 15) ahead of the psychological mark at 1.2800 and finally 1.2740 (2013 low Apr.14).
On the flip side, a breakout of 1.2930 (high May 16) would open the door to 1.2943 (high May 15) and then 1.3030 (high May 14).