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FxWirePro: EURUSD trades higher on dovish Fed, jump till 1.1500 likely

EURUSD trades higher and jumped more than 40 pips after Fed monetary policy. Fed has kept its rates unchanged as expected to downgraded growth forecast for Q1 to 2.6% form 2.9%. It hits intraday high of 1.14139 and is currently trading around 1.14119.

 

The yield spread between US and German bund has narrowed to 248 basis point from 259 basis point  and for 2 year spread hits 11-month low to 294 basis point is supporting Euro.

 

On the higher side near term major resistance is around 1.14150 (trend line resistance) and any violation above will take the pair to next level till 1.1480 (200- day MA)/1.15145/1.15690.

 

The near term support is around 1.1364 (100- day MA) and any break below will drag the pair to next level till 1.1320/1.12970/1.12600. Any break below 1.12150 will drag the pair till 1.11760/1.1150.

 

It is good to buy on dips around 1.13800 with SL around 1.1335 for the TP of 1.1500/1.1565.     

 

 

 

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 766469766469m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766469766469m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 778289778289m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 766469766469m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 778289778289m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 766469766469m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766469766469m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766469766469m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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