- EUR/USD remains with a bearish bias after Fed’s minutes.
- Greenback marginally higher, consolidates gains.
The EUR/USD pair remained around daily lows after the release of the FOMC minutes. Previously the euro printed a fresh 1-week low at 1.1510 and held near that level following Fed’s minutes.
According to the document, a number of FOMC members saw the need to hike interest rates above the long-run level. Regarding the change in the September statement, almost all officials considered it appropriate to remove references to monetary policy being accommodative.
The US dollar rose modestly in the market hitting fresh highs versus the euro, the Swiss franc, the yen and the loonie. Equity markets dropped modestly and US yields rose.
Levels to watch
To the downside, support levels might be located at 1.1500, followed by 1.1485 and 1.1460 (Oct 4, 8 low). On the flip side, resistance could be seen at 1.1525, 1.1545 (Asian session low) and 1.1580 (Oct 17 high).
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