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23 May 2013
EUR/USD treading water around 1.2900
FXstreet.com (Barcelona) - The shared currency is holding onto the key mark at 1.2900 on Thursday amidst another attempt of the greenback to gain upside momentum.
In the wake of yesterday’s testimony and Q&A session by Chairman Bernanke, analysts at BBH commented, “The performance of the economy over the next 3-4 months is important, and until then the Fed is buying $85 bln a month of long-term assets and, even if its slows its purchases in September, it will be continuing to ease policy, albeit at a slower pace”.
The pair is now advancing 0.34% at 1.2904 with the next hurdle at 1.3011 (MA21d) followed by 1.3030 (high May 14) and finally 1.3051 (high May 10).
On the flip side, a violation of 1.2809 (low May 20) would open the door to 1.2796 (low May 17) and then 1.2754 (weekly cloud base).
In the wake of yesterday’s testimony and Q&A session by Chairman Bernanke, analysts at BBH commented, “The performance of the economy over the next 3-4 months is important, and until then the Fed is buying $85 bln a month of long-term assets and, even if its slows its purchases in September, it will be continuing to ease policy, albeit at a slower pace”.
The pair is now advancing 0.34% at 1.2904 with the next hurdle at 1.3011 (MA21d) followed by 1.3030 (high May 14) and finally 1.3051 (high May 10).
On the flip side, a violation of 1.2809 (low May 20) would open the door to 1.2796 (low May 17) and then 1.2754 (weekly cloud base).