Wednesday, June 23, 2010

EUR/USD jumps after FOMC


The Euro rose sharply against the Dollar following the FOMC statement and erased previous losses. The pair jumped to 1.2342, reaching a 2-day high and extended its recovery from 1.2207 (session low). Currently is pulling back and trades around 1.2310/20. 

According to Valeria Bednarik at the live coverage of the FED interest rate decision, if the EUR/USD managed to close the day above 1.2350, “chances of a continuation in the next couple of days are quite likely”. 

The Euro also recovered ground against the Swiss Franc following the decision. EUR/CHF moved slightly away from record lows but holds below 1.3600. 

Against the Pound, the Euro managed to rise back above 0.8200 and currently is testing the 0.8240 zone. 

EUR/USD (Jun 23 at 21:41 GMT)

1.2314/15 (0.36%)

H 1.2345 L 1.2208

S3S2S1R1R2R3
1.22481.22791.23101.23271.23581.2389
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Jun 23 at 19:38 (15-minute timeframe)

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