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Forex: EUR/USD extends losses ahead of FOMC minutes

The euro extended losses versus the greenback during the American afternoon and hit a marginal new low of 1.3332 ahead of the release of the minutes from the latest FOMC meeting.

The euro fell against a broad stronger dollar amid risk aversion and dragged by the Cable slump. However, EUR/USD has managed to hold above the 1.3300/10 area, which is a key support for the cross. At time of writing, EUR/USD is trading around 1.3345, still down 0.3% on the day.

As for technical levels, if EUR/USD breaks below the 1.3330 area, next supports are seen at 1.3306 (low Feb 15/38.2% retracement of 1.2660/1.3710) and 1.3270. On the other hand, recovery attempts could find resistance at 1.3400, followed by 1.3450 (21-day SMA) and 1.3475 (high Feb 12).

US markets retreat ahead of FOMC minutes

Shares in the US markets are trading in the defensive territory on Wednesday, ahead of the FOMC minutes due later. Market participants are eagerly waiting for the minutes and any hint of the future...
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Forex: EUR/USD fell to 1.3280 on hawkish FOMC

The single currency dipped to the area around 1.3280 after an unexpected dovish tone from the FOMC minutes. The minutes suggested the Fed should vary the pace of QE and that the US economy is on..
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