Back
22 May 2013
EUR/USD dips to lows on Bernanke comments
FXstreet.com (Barcelona) - Extremely volatile session so far for the single currency, dipping to session lows in sub 1.2900 levels soon after hitting the opposite end of the range at the key 1.3000 handle.
According to Chief Bernanke, the pace of the asset purchases could be discussed in ‘the next few meetings’, and it remains data dependent. Furthermore, he did not discarded tapering the ongoing flow of stimulus, to be addressed in the next meetings as well.
As of writing, the cross is up 0.10% at 1.2919 with the next resistance at 1.3009 (MA21d) and then 1.3030 (high May 14).
On the flip side, a breakdown of 1.2841 (low May 21) would aim for 1.2809 (low May 20) and then 1.2796 (low May 17).
According to Chief Bernanke, the pace of the asset purchases could be discussed in ‘the next few meetings’, and it remains data dependent. Furthermore, he did not discarded tapering the ongoing flow of stimulus, to be addressed in the next meetings as well.
As of writing, the cross is up 0.10% at 1.2919 with the next resistance at 1.3009 (MA21d) and then 1.3030 (high May 14).
On the flip side, a breakdown of 1.2841 (low May 21) would aim for 1.2809 (low May 20) and then 1.2796 (low May 17).