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15 May 2013
Forex: EUR/USD consolidating around 1.2850/55
FXstreet.com (Barcelona) - The shared currency keeps the negative tone on Wednesday, hovering over the area of 1.2850/55, as the greenback continues its buoyant march.
Against the backdrop of rumours involving the Fed, John Kicklighter, Senior Currency Strategist at DailyFX, commented, “While global central banks like the BoJ, ECB and BoE are warming to further easing; the Fed ranks have grown more outspoken of the risks of excessive stimulus”.
The cross is now retreating 0.38% at 1.2871 and a violation of 1.2747 (low Apr.4) would expose 1.2679 (61.8% of 1.2042-1.3711) and finally 1.2662 (low Nov.13).
On the flip side, the next hurdle is located at 1.2943 (high May 15) ahead of 1.3030 (high May 14) and then 1.3048 (MA21d).
Against the backdrop of rumours involving the Fed, John Kicklighter, Senior Currency Strategist at DailyFX, commented, “While global central banks like the BoJ, ECB and BoE are warming to further easing; the Fed ranks have grown more outspoken of the risks of excessive stimulus”.
The cross is now retreating 0.38% at 1.2871 and a violation of 1.2747 (low Apr.4) would expose 1.2679 (61.8% of 1.2042-1.3711) and finally 1.2662 (low Nov.13).
On the flip side, the next hurdle is located at 1.2943 (high May 15) ahead of 1.3030 (high May 14) and then 1.3048 (MA21d).