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Forex: EUR/USD hovering over 1.3200 ahead of FOMC

By FXstreet.com,  April 25, 2012, 08:22:00 AM EDT

FXstreet.com (Barcelona) - The cross is circling the 1.3200 mark on Wednesday and posting meagre gains ahead of the FOMC meeting due later on. Market participants will focus their attention on Chief Bernanke's press conference after the statement, trying to unveil any hint regarding the interest rates forecasts as well as the unemployment figures for the upcoming months.

Thin docket ahead for the US, as durable goods orders and the weekly EIA report on crude oil inventaries are also due.

The cross is up 0.05% at 1.3204 as of writing, with the next resistance at 1.3240 (high Apr.4) ahead of 1.3300 (hourly low Apr.3) then 1.3342 (Upper Bollinger) and 1.3368 (high Apr.3).
A violation of 1.3154 (MA10d) would bring 1.3114 (MA100d) then 1.3058 (low Apr.18) and 1.2998 (Lower Bollinger).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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