EUR/USD upside still intact before ECB next week

By FXStreet FXStreet (Guatemala) – EUR/USD is attempting the upside, but falling shy yet again of the 1.15 handle and there is a lack of conviction on the daily chart.

The dollar has managed to pick up some interest on the CPI’s, (1.9% vs 1.8% exp 1.8% and prev), and took the major down to the 1.1363/80 support while otherwise, the pair was on target for a test of the 200 SMA on the hourly chart at 1.1324 currently.

We have representatives of both the ECB and FOMC today, with first ECB’s Nowotny speaking in Warsaw said, “In my view it’s quite obvious that additional sets of instruments are necessary,” which does not bode well for euro bulls with the forthcoming ECB next and possibility of a extension to QE. However, analysts at BTMU explained, “… we expect no change in stance at the meeting – admittedly though, it is becoming a close call.”

We had a series of Fed speakers again today, most attention of which was paid to Dudley as usual. But as usual, there was nothing affirmed and markets are left guessing, weighing on the greenback. You can read more here on Dudley and here on …read more

Source:: FX Street