- The US dollar turns and falls across the board during Powell’s press conference.
- EUR / USD jumps from a new daily low to two-week highs.
The EUR/USD jumped from 1.1771 to 1.1843, reaching its highest level since July 15. For now, the euro is facing resistance around the 1.1840 / 45 zone as market participants digest the FOMC meeting and Powell’s press conference.
The bias in the EUR / USD points to the upside. Above 1.1850 the rise could gain momentum. On the other hand, 1.1770 is the key short-term support and if it breaks it would expose the July low at 1.1750.
Powell notes that the asset purchase program was discussed
Jerome Powell, Chairman of the Federal Reserve, was responsible for the dollar collapsing and his rivals taking control of the situation. The president said that the central bank would give notice before reducing the asset purchase program, and that it was debated how this program could be changed. “The tapering time will depend on the incoming data,” he continued.
The euro, despite the rally against the dollar, has fallen against the Swiss franc and the EUR / CHF is trading at its lowest since January below 1.0800.
|Today last price||1.1828|
|Today’s Daily Change||0.0011|
|Today daily change%||0.09|
|Today they open every day||1.1817|
|Previous Daily High||1.1841|
|Previous Daily Low||1.177|
|Previous weekly high||1.183|
|Previous Weekly Low||1.1752|
|Previous monthly maximum||1.2254|
|Previous Monthly Low||1.1845|
|Daily Fibonacci 38.2%||1.1814|
|Daily Fibonacci 61.8%||1.1797|
|Daily Pivot Point S1||1.1778|
|S2 daily pivot point||1.1738|
|S3 Daily Pivot Point||1.1707|
|R1 daily pivot point||1.1849|
|Daily pivot point R2||1.1881|
|R3 daily pivot point||1.192|