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EUR/USD nose-dives to 1.2670 post-FOMC

FXStreet (Edinburgh) - The single currency is getting hammered on Wednesday, dragging EUR/USD to fresh intraday lows in the 1.2680/70 band.

EUR/USD weaker after Fed

Broadly in line with consensus, the Committee announced the final taper of $10 billion in Treasuries and $5 bilion in MBS, ending the QE3 programme started 2 years ago. The Fed kept rates unchanged at 0.00-0.25%, matching estimates. Selling interest is now mounting around the euro, pushing spot to challenge weekly lows around 1.2670.

EUR/USD relevant levels

The pair is now losing 0.48% at 1.2673 with the next support at 1.2665 (low Oct.27). On the upside, the initial hurdle aligns at 1.2765 (high Oct.28) followed by 1.2841 (high Oct.21) and then 1.2845 (high Oct.16).

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