FXstreet.com (Barcelona) - Right ahead of the New York opening, the EUR/USD rallied to 1.2983 on good news coming from Greece, the 2-year extension to meet the bailout program, and ECB's Draghi meeting with Budgetary, Finance and European committee as well as some MPs. The important press conference with Bundestag's Lammert went well and was praised as he helped build trust with the German lawmakers, also convincing them that fears of inflation are unfounded.
After hitting the 1.2983 price, the pair eased its way to 1.2960 after the release of US new home sales rising more than expected in September. Still ahead is the FOMC press conference at 18:15 GMT.
“The 200 day ma has been the focus of a lot of attention recently and failure here would be viewed as psychologically negative”, wrote analyst Karen Jones, adding that a breach would imply that the market had topped and signal losses to the 1.2738 and 1.2605, (38.2% and 50% retracements).
After hitting the 1.2983 price, the pair eased its way to 1.2960 after the release of US new home sales rising more than expected in September. Still ahead is the FOMC press conference at 18:15 GMT.
“The 200 day ma has been the focus of a lot of attention recently and failure here would be viewed as psychologically negative”, wrote analyst Karen Jones, adding that a breach would imply that the market had topped and signal losses to the 1.2738 and 1.2605, (38.2% and 50% retracements).
