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EUR/USD remains in session highs near 1.1350

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The bid tone remains firm around the single currency on Friday, with EUR/USD now hovering over the 1.1340 area, near session tops.

    EUR/USD firmer post-FOMC

    The unexpected dovish tone from the FOMC meeting on Thursday keeps weighing on the dollar at the end of the week, sending spot to fresh 3-week peaks around 1.1350.

    The Committee showed concerns regarding the inflation outlook in the US economy, while it acknowledged that events overseas - particularly from China and the rest of the EM space - could impact on the US growth prospects.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.60% at 1.1344 and a breakout of 1.1400 (psychological level) would target 1.1460 (monthly high Sep.18) and then 1.1714 (high post-PBoC move Aug.24). On the flip side, the immediate support lines up at 1.1224 (55-d sma) followed by 1.1174 (2-month up trend) and then 1.1107 (monthly low Sep.23).
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