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EURUSD up after Fed meeting December 13 2012

ForexZig.com December 13, 2012

The euro was traded higher against the American dollar in EURUSD today, after the Federal Reserve proclaimed new easing measures and claimed that interest rates are going to remain close to zero until the American unemployment rate falls under 6.5%.

During the late Asian trading session, the currency pair EURUSD reached the level 1.3098, a highest level for this session. Later on, the pair EURUSD consolidated at 1.3087, up with 0.11%.

The currency pair EURUSD was supposed to find support at 1.3054, a lowest level for this session, and near-term resistance at 1.3125, a top level from December 5 and a five-week high.

EURUSD

EURUSD, H4

The Fed announced that interest rates are going to remain close to zero until inflation forecasts remain near the 2% target of the bank and until the American unemployment rate drops with 6.5% or less.

Meanwhile, euro zone finance ministers agreed a deal on rules for supervising euro zone banks ahead of a European Union summit later in the day.

The euro moved higher against the pound, with EURGBP trading at 0.8107, and reached its eight-month highs against the struggling yen, with EURJPY going up to 109.42.

Later this day, America is expected to release official data on retail sales and producer price inflation, together with the weekly government report on initial jobless claims.

Levels of support: 1.3054, 1.2465;
Levels of resistance: 1.3125, 1.3283;

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