Yesterday, the EUR/USD corrected from Wednesdays jump when the pair was pulled above 1.1000. Traders assessed the possibility of the interest rate hike occurring in June. The pair dropped to 1.0610 but once weaker than expected U.S Philadelphia Manufacturing Index was released, rose to 1.0690.
Today, there will be no important data releases. However volatility could increase on the back of speeches from FOMC members Dennis Lockhart and Charles Evans. Charles Evans previously stated his opinion that the hike should be postponed until next year. The trend is sideways. Support is found at 1.0580 and resistance at 1.1000.
Yesterday, the GBP/USD declined to levels seen before the FOMC meeting. The U.S Dollar appreciated as traders priced in the fact that the Fed considered hiking interest rates in June even though it will be dependent on economic data.
Today, volatility could be low as it is the end of the week and no important economic events are scheduled. However, traders should watch speeches from FOMC members Lockhart and Evans. The trend is sideways. Support is found at 1.4630 and resistance at 1.5010.
March 20, 2015 – Forex News
Hot asset for today: USD
EUR/USD
Yesterday, the EUR/USD corrected from Wednesdays jump when the pair was pulled above 1.1000. Traders assessed the possibility of the interest rate hike occurring in June. The pair dropped to 1.0610 but once weaker than expected U.S Philadelphia Manufacturing Index was released, rose to 1.0690.
Today, there will be no important data releases. However volatility could increase on the back of speeches from FOMC members Dennis Lockhart and Charles Evans. Charles Evans previously stated his opinion that the hike should be postponed until next year. The trend is sideways. Support is found at 1.0580 and resistance at 1.1000.
GBP/USD
Yesterday, the GBP/USD declined to levels seen before the FOMC meeting. The U.S Dollar appreciated as traders priced in the fact that the Fed considered hiking interest rates in June even though it will be dependent on economic data.
Today, volatility could be low as it is the end of the week and no important economic events are scheduled. However, traders should watch speeches from FOMC members Lockhart and Evans. The trend is sideways. Support is found at 1.4630 and resistance at 1.5010.