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17 Mar 2015
EUR/USD settles below 1.0600
FXStreet (Córdoba) - EUR/USD has had a quiet American session, consolidating in a slim range after the latest upside attempt - propelled by weak US housing data - was capped by the 1.0650 area.
EUR/USD retreated from the day's high and settled just below 1.0600 over the last hours. At time of writing, the pair is trading at 1.0590, still up 0.23% on the day, as markets focus turns to the FOMC meeting conclusion.
The Federal Reserve is expected to remove the word 'patient' from its language at tomorrow’s statement, signaling a step forward a rate raise sometime mid-year.
EUR/USD technical levels
While trading is expected to remain subdued over the upcoming sessions, in terms of technical levels, EUR/USD could find immediate resistances at 1.0650 (daily high), 1.0680 (Mar 12 high) and 1.0700 (psychological level/200-hour SMA). On the other hand, supports are seen at 1.0550 (daily low), 1.0500 (psychological level) and 1.0461 (12-year low Mar 13).
EUR/USD retreated from the day's high and settled just below 1.0600 over the last hours. At time of writing, the pair is trading at 1.0590, still up 0.23% on the day, as markets focus turns to the FOMC meeting conclusion.
The Federal Reserve is expected to remove the word 'patient' from its language at tomorrow’s statement, signaling a step forward a rate raise sometime mid-year.
EUR/USD technical levels
While trading is expected to remain subdued over the upcoming sessions, in terms of technical levels, EUR/USD could find immediate resistances at 1.0650 (daily high), 1.0680 (Mar 12 high) and 1.0700 (psychological level/200-hour SMA). On the other hand, supports are seen at 1.0550 (daily low), 1.0500 (psychological level) and 1.0461 (12-year low Mar 13).