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EUR/USD remains above 1.1030 despite USD strength

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD managed to remain above European session lows that lie around 1.1030 despite the strength of the US dollar across the board. While Greenback reached fresh high against the Swiss franc and commodity currencies versus the euro remained mostly steady moving in a range of less than 30 pips.

    EUR/USD after data, ahead of the Fed

    Economic data from the US did not generate volatility in the UER/USD pair. Trader’s attention remains on tomorrow FOMC statement. The Federal Reserve meeting that started today is likely to end with the decision to kept rates unchanged according to market consensus. Analysts will look into the words of the statement for clues about when the central bank will raise rates.

    So far today the pair moved in a range of less than 50 pips. In peaked at 1.1078 and bottomed then at 1.1029; both levels hit during the European session. During the last hours it has been steady with a modest bearish bias (intraday) as price holds below the 20-hour moving average that stands at 1.1050/55.
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