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EUR/USD advances beyond 1.2700

FXStreet (Edinburgh) - The single currency was boosted after the release of the FOMC minutes on Wednesday, lifting EUR/USD beyond 1.2700 the figure.

EUR/USD firmer, in multi-day highs

Spot is accelerating the upside after FOMC members pledged for caution regarding any changes in the current Fed’s forward guidance. Members also saw the US economy threatened by a potential global slowdown and stressed the data-dependent character of the forward guidance. In the same tone, the Committee assessed that high levels of the greenback could affect the domestic exports sector and slow the increase of inflation.

EUR/USD levels to watch

As of writing the pair is advancing 0.24% at 1.2701 with the next resistance at 1.2761 (high Sep.26) ahead of the psychological mark at 1.2800. On the flip side, a breakdown of 1.2583 (low Oct.7) would target 1.2504 (low Oct.6) en route to 1.2501 (2014 low Oct.3).

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