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EUR/USD turns lower after Fed minutes

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD was hovering around 1.1135 before the release of the Fed minutes and then climbed to 1.1156, hitting the strongest since the European session but it failed to hold and dropped below 1.1130.

    The euro has been able to remain away from 1.1105, today’s low and the weakest since February 8. The short-term bias points slightly to the downside.

    The minutes from the January meeting, when the FOMC decided to leave rates unchanged (after the December rate hike) showed that many members judged that uncertainty and downside risks had increased.

    EUR/USD levels to watch

    To the upside, immediate resistance might be seen at 1.1105 (daily low) and 1.1085 (Feb 08 low) and 1.1050 (20-day MA). On the opposite direction, resistance could be located at 1.1155/60 (American session high), 1.1180 (daily high) and 1.1210 (Feb 12 low).
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