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EUR/USD nervous ahead of FOMC

FXStreet (Moscow) - EUR/USD  is practically immovable during subdued Asian session on Wednesday; The pair is sitting at its opening level of 1.2734 after having moved in 12-pips range.

EUR/USD finished the third positive day in a row on Tuesday. The upside was caused by USD weakness triggered by unexpectedly weaker Durable Goods Orders. European calendar seems to be empty, so now the market focus shift onto the FOMC meeting. The FED is widely expected to wrap-up its asset buying program, known as QE3, but investors are more interested in rate hike prospects. If the FED’s officials continue to stress that there is no hurry to tighten policy and rates are going to remain low for a considerable time, USD might weaken across the board. EUR/USD may break above 1.2800 and touch 1.2840. The support comes at 1.2720 and 1.2700.

What are today’s key EUR/USD levels? 


Today's central pivot point can be found at 1.2727, with support below at 1.2691, 1.2648 and 1.2610, with resistance above at 1.2772, 1.2810 and 1.2853. Hourly Moving Averages are bearish, with the 200SMA bullish at 1.2722 and the daily 20EMA flat at 1.2729. Hourly RSI is bullish at 57.

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