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19 Mar 2014
EUR/USD drops to 1.3840 on FOMC
FXStreet (Edinburgh) - The single currency is now quickly giving ground against the greenback, dragging the EUR/USD to the mid-1.38s, last seen after February’s Payrolls.
EUR/USD weaker after Fed taper
The pair is now intensifying its sell-off after the FOMC tapered its QE programme by additional $10 billion, taking it to $55 billion/month. The Committee also informed that it sees sufficient strength in the economy and some members see rates at least at 1% at the end of 2015 and 2.25% by the end of 2016. In the same direction, members lowered the unemployment rate to 6.1%-6.3% for 2014 and 5.6%-5.9% for 2015.
EUR/USD levels to consider
As of writing the pair is losing 0.59% at 1.3851 with the next support at 1.3848 (low Mar.14) ahead of 1.3721 (low Mar.6) and then 1.3707 (low Mar.5). On the upside, a break above 1.3935 (high Mar.19) would target 1.3944 (high Mar.18) en route to 1.3948 (high Mar.17).
EUR/USD weaker after Fed taper
The pair is now intensifying its sell-off after the FOMC tapered its QE programme by additional $10 billion, taking it to $55 billion/month. The Committee also informed that it sees sufficient strength in the economy and some members see rates at least at 1% at the end of 2015 and 2.25% by the end of 2016. In the same direction, members lowered the unemployment rate to 6.1%-6.3% for 2014 and 5.6%-5.9% for 2015.
EUR/USD levels to consider
As of writing the pair is losing 0.59% at 1.3851 with the next support at 1.3848 (low Mar.14) ahead of 1.3721 (low Mar.6) and then 1.3707 (low Mar.5). On the upside, a break above 1.3935 (high Mar.19) would target 1.3944 (high Mar.18) en route to 1.3948 (high Mar.17).