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18 Mar 2015
FX space subdued ahead of FOMC Meeting – Kshitij Consultancy
FXStreet (Barcelona) - The Research Team at Kshitij Consultancy, gives the outlook for FX majors, noting that with the FOMC meet ahead keeping the market quiets, the overall trend for Euro, Aussie and Pound remains weak.
Key Quotes
“Our target of 1.0655 in the Euro (1.0606) was almost achieved with the Euro seeing a high of 1.0651 yesterday. The Pound (1.4758) trades lower in line with our weak bias mentioned yesterday. That apart, the Yen (121.33) and Aussie (0.7623) have remained stable through yesterday. Overall, the currency market is waiting quietly for the FOMC meeting outcome today.”
“The trends are still weak overall for the Euro, Pound and Aussie while below 1.0730, 1.4880 and 0.7690 respectively, but Dollar-Yen has long-term Resistance at 123, as we've been mentioning for some time now. That said, maybe we need to allow for 123.50 on the upside as the Yen does not look particularly strong against the Pound and the Aussie.”
Key Quotes
“Our target of 1.0655 in the Euro (1.0606) was almost achieved with the Euro seeing a high of 1.0651 yesterday. The Pound (1.4758) trades lower in line with our weak bias mentioned yesterday. That apart, the Yen (121.33) and Aussie (0.7623) have remained stable through yesterday. Overall, the currency market is waiting quietly for the FOMC meeting outcome today.”
“The trends are still weak overall for the Euro, Pound and Aussie while below 1.0730, 1.4880 and 0.7690 respectively, but Dollar-Yen has long-term Resistance at 123, as we've been mentioning for some time now. That said, maybe we need to allow for 123.50 on the upside as the Yen does not look particularly strong against the Pound and the Aussie.”