EURUSD stable pending Fed decision December 12 2012

The euro traded stable against the American dollar in EURUSD today, among market expectations that the Federal Reserve would announce further monetary easing measures.

During the late Asian trade session, the currency pair EURUSD hit the level of 1.3014, which is highest level for this session. Later on the pair EURUSD found consolidation at the level 1.2997.

The pair was EURUSD was supposed to find support at 1.2928, which is bottom from Tuesday, and resistance at 1.3085, the highest level from December 6.


The American central bank is about to to announce new easing steps to replace its Operation Twist program that expires this month following its policy setting meeting later this day.

The euro found support due to official data from yesterday, which marked that Germany’s ZEW economic sentiment index made a significant amend in December.

The euro had a slight change against the pound, with EURGBP trading at 0.8072 and moved higher against the yen, with EURJPY reaching the level of 107.55.

Later this day, the euro zone is expected to show official data on industrial production.

Levels of support: 1.2928, 1.2465;
Levels of resistance: 1.3085, 1.3283;

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