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Forex: EUR/USD glued to 1.3165/70

FXstreet.com (Barcelona) - The shared currency remains trapped within a very narrow range on Wednesday, hovering over 1.3165/70 ahead of the ADP Employment Change report for the month of April. Prior surveys expect the US private sector to have created 150K jobs, below March’s 158K.

Against the backdrop of the FOMC gathering this evening, Chief Analyst A. von Mehren at Danske Bank commented, “We expect a softer tone in the statement in light of recent weaker data but it is too soon to scale up the monthly bond purchases”.

EUR/USD is now up 0.01% at 1.3170 with the next hurdle at 1.3202 (high Apr.160 ahead of 1.3226 (50% of Feb-Apr slide) and then 1.3230 (daily cloud top).
On the flip side, a breakdown of 1.3120 (hourly high Apr.30) would open the door to 1.3050 (MA21d) and finally 1.2988 (low Apr.25).

Forex EUR/AUD above 1.2700 after Australia data

The EUR/AUD first fell below the 1.2700 to find a low at 1.2682 after the release of Australian data. Then, retracement and a move to 1.2726 high followed. The cross is trading below 1.2720.
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Forex: USD/CHF prints high at 0.9310 and returns to 0.9300

The USD/CHF broke off its limited to trading range to post a high at 0.9310. Such move was quickly retraced back to the psychological level at 0.9300. The European session is moving slowly, but volatility is expected for the New York session, with the FOMC policy decision later at 18:00 GMT, as well as the ADP employment and ISM manufacturing PMI at 14:00 GMT.
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