FXStreet (Edinburgh) – The shared currency remains in the upper bound of the recent range, taking EUR/USD to the 1.1370 area.
EUR/USD eyes 1.1400 post-FOMC
The pair managed to gather further traction after the FOMC statement on Wednesday showed the Fed’s ‘data-dependent’ stance remains unchanged, opening the door for two rate hikes this year. The Committee has also lowered its economic growth forecasts and the rates projections, although this has already been anticipated by market consensus.
Ahead in the day, there are no scheduled events in Euroland, while inflation figures tracked by the CPI will take centre stage across the pond.
EUR/USD key levels
As of writing the pair is advancing 0.14% at 1.1353 with the next resistance at 1.1377 (high Jun.18) followed by 1.1387 (high Jun.10) and finally 1.1450 (high May 18). On the flip side, a breach of 1.1277 (10-d MA) would open the door to 1.1206 (low Jun.17) and then 1.1189 (low Jun.15).
(Market News Provided by FXstreet)