EUR/USD steadies below 1.1300 post FOMC, German CPI eyed
29 January 2015, 07:46
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EUR/USD remains subdued in the early European morning, continuing its bearish trend as the correction from the beginning of the week seems to have ended after USD regained strength post FOMC.
EUR/USD supported at 5-DMA
The EUR/USD now recovers from session lows and trades now at 1.1276 levels, down -0.12% on the day, heading for another attempt to breach 1.1300 levels. EUR/USD recovers mild losses as traders seemed to have moved past Fed’s decision now and await the crucial German preliminary inflation report to be released later in the session.
The pair pared its previous gains and edged lower overnight as the less dovish FOMC statement, as widely expected, fuelled fresh round of greenback buying.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1300 levels, above which gains could be extended to 1.1374 (Jan 23 High) levels. On the flip side, support is seen at 1.1265 (5-DMA) levels, below which it could extend losses to 1.1223 (Jan 28 Low) levels.
EUR/USD supported at 5-DMA
The EUR/USD now recovers from session lows and trades now at 1.1276 levels, down -0.12% on the day, heading for another attempt to breach 1.1300 levels. EUR/USD recovers mild losses as traders seemed to have moved past Fed’s decision now and await the crucial German preliminary inflation report to be released later in the session.
The pair pared its previous gains and edged lower overnight as the less dovish FOMC statement, as widely expected, fuelled fresh round of greenback buying.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1300 levels, above which gains could be extended to 1.1374 (Jan 23 High) levels. On the flip side, support is seen at 1.1265 (5-DMA) levels, below which it could extend losses to 1.1223 (Jan 28 Low) levels.
