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18 Sep 2013
Flash: FOMC meeting looming. What about the EUR/USD? – Danske Bank and Commerzbank
FXstreet.com (Edinburgh) -The single currency keeps the flat trading on Wednesday, with the EUR/USD hovering over 1.3355/60 as market participants continue to position for this evening’s FOMC gathering.
According to Karen Jones, Head of FICC Technical Analysis at the German lender Commerzbank, “The market will stay immediately bid above the 1.3343 accelerated uptrend, and only below here alleviates immediate upside pressure for a slide back to the 1.3227/1.3160 55 and 200 day moving average and then the 1.3104/5 September low”.
Furthermore, Analyst Kasper Kirkegaard at Danske Bank suggested, “Our view on FOMC tapering is probably close to consensus which, together with our view that FOMC will try to convince the market that rate hikes are not imminent, means we see risks slightly tilted to the upside for EUR/USD”.
According to Karen Jones, Head of FICC Technical Analysis at the German lender Commerzbank, “The market will stay immediately bid above the 1.3343 accelerated uptrend, and only below here alleviates immediate upside pressure for a slide back to the 1.3227/1.3160 55 and 200 day moving average and then the 1.3104/5 September low”.
Furthermore, Analyst Kasper Kirkegaard at Danske Bank suggested, “Our view on FOMC tapering is probably close to consensus which, together with our view that FOMC will try to convince the market that rate hikes are not imminent, means we see risks slightly tilted to the upside for EUR/USD”.