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29 Oct 2014
EUR/USD nose-dives to 1.2670 post-FOMC
FXStreet (Edinburgh) - The single currency is getting hammered on Wednesday, dragging EUR/USD to fresh intraday lows in the 1.2680/70 band.
EUR/USD weaker after Fed
Broadly in line with consensus, the Committee announced the final taper of $10 billion in Treasuries and $5 bilion in MBS, ending the QE3 programme started 2 years ago. The Fed kept rates unchanged at 0.00-0.25%, matching estimates. Selling interest is now mounting around the euro, pushing spot to challenge weekly lows around 1.2670.
EUR/USD relevant levels
The pair is now losing 0.48% at 1.2673 with the next support at 1.2665 (low Oct.27). On the upside, the initial hurdle aligns at 1.2765 (high Oct.28) followed by 1.2841 (high Oct.21) and then 1.2845 (high Oct.16).
EUR/USD weaker after Fed
Broadly in line with consensus, the Committee announced the final taper of $10 billion in Treasuries and $5 bilion in MBS, ending the QE3 programme started 2 years ago. The Fed kept rates unchanged at 0.00-0.25%, matching estimates. Selling interest is now mounting around the euro, pushing spot to challenge weekly lows around 1.2670.
EUR/USD relevant levels
The pair is now losing 0.48% at 1.2673 with the next support at 1.2665 (low Oct.27). On the upside, the initial hurdle aligns at 1.2765 (high Oct.28) followed by 1.2841 (high Oct.21) and then 1.2845 (high Oct.16).