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20 May 2013
Forex: EUR/USD around 1.2850 pre-Europe
FXstreet.com (Barcelona) - The shared currency climbed from overnight lows in the boundaries of 1.2820 to the current area around the mid 1.28s ahead of the opening bell in London.
Against the backdrop of the FOMC minutes, the research team at NAB commented, “The win-win psychology whereby good economic data is well-received and poor numbers raise stimulus hopes may be challenged if Fed ‘tapering’ talk becomes much louder”.
As of writing, the cross is advancing 0.03% at 1.2847 with the next hurdle at 1.2890 (high May 17) and then 1.2930 (high May 16).
On the flip side, a dip beyond 1.2796 (low May 17) would aim for 1.2754 (weekly cloud base) and finally 1.2740 (2013 low Apr.14).
Against the backdrop of the FOMC minutes, the research team at NAB commented, “The win-win psychology whereby good economic data is well-received and poor numbers raise stimulus hopes may be challenged if Fed ‘tapering’ talk becomes much louder”.
As of writing, the cross is advancing 0.03% at 1.2847 with the next hurdle at 1.2890 (high May 17) and then 1.2930 (high May 16).
On the flip side, a dip beyond 1.2796 (low May 17) would aim for 1.2754 (weekly cloud base) and finally 1.2740 (2013 low Apr.14).