EUR/USD reacts to Fed Meeting Minutes

Source: Dukascopy Bank SA


The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value.

On the EUR/USD charts the pair had additional support of the 1.0900 mark and a recovery started. By mid-Thursday, the pair had broken through the resistance of the 1.0930/1.0935 range and the 50-hour simple moving average.

An extension of the ongoing surge is expected to face resistance in the 1.1000/1.1045 range. In this range there are two high and low level zones, the weekly R1 simple pivot point and the 100 and 200-hour simple moving averages.

On the other hand, a decline might find support in the 1.0930/1.0935 zone and the 50-hour simple moving average, before once again approaching the 1.0900 mark. Further below, note the 1.0880/1.0890 range and the weekly simple pivot point at 1.0881.
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Thu, 04 Jan 2024 09:52:39 GMT

GBP/USD is back above 1.2700

The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value. In combination with the strong support of the 1.2590/1.2610 range, the fundamental event caused

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