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8 Jan 2014
EUR/USD supply post FOMC minutes
FXstreet.com (Guatemala) - EUR/USD is continuing on the downside post the predictable set of FOMC minutes.
The minutes came with no real surprises and momentum to the downside is slow. The minutes revealed that a number of the members wanted to proceed cautiously with first cut to QE, use measured steps. "Most" concerned about QE risks to financial stability and “Most” participants are confident in jobs market gains. Officials saw waning benefits from monthly bond purchases and some wanted large cuts to purchases, quicker end to program
EUR/USD Levels
The 20 DMA is 1.3706, the 50 DMA is 1.3609 and the 200 DMA is 1.3325. RSI (14) reads 40.02. Supports are ascending from 1.3490, 1.3525, Spot is 1.3558 while resistances are 1.3572, 1.3593, 1.3657, 1.3680, 1.3729 and 1.3743.
The minutes came with no real surprises and momentum to the downside is slow. The minutes revealed that a number of the members wanted to proceed cautiously with first cut to QE, use measured steps. "Most" concerned about QE risks to financial stability and “Most” participants are confident in jobs market gains. Officials saw waning benefits from monthly bond purchases and some wanted large cuts to purchases, quicker end to program
EUR/USD Levels
The 20 DMA is 1.3706, the 50 DMA is 1.3609 and the 200 DMA is 1.3325. RSI (14) reads 40.02. Supports are ascending from 1.3490, 1.3525, Spot is 1.3558 while resistances are 1.3572, 1.3593, 1.3657, 1.3680, 1.3729 and 1.3743.