Forex Zone (Forex Zone)
Czech markets  |  November 14, 2012 09:57:42

Low rates in the U.S. until 2016


In his speech yesterday, Fed Vice President Janet L. Yellen said that U.S. interest rates would remain exceptionally low until early 2016. According to Yellen is the optimal way for a solution that will keep inflation close as possible to 2% and the unemployment rate close to 6%. This highly supportive policies will lead to a faster reduction of unemployment.

We'll see what the Fed eventually passes, but these words had begun to sound like a Japanese model and a lost decade for the U.S.. Well, maybe that something does not work in Japan, will miraculously work in the U.S.. To resolve but we will wait a long time.

As regards developments in the monitored pair EUR / USD, so he tested yesterday toward Reviews Support around 1.2650, but the price did not reach up there. During yesterday's U.S. session pair traded in the upper half of the day, the price range, indicating that the possible consolidation and interrupt the current movement below.

Today, the price has tested the above yesterday's high. Another objective is likely to perceive the test session high Monday. We see also the potential for testing today's Asian session low. At 14:30 will be published more macro data from the U.S. and at 20:00 minutes of the last FOMC meeting. These events can bring about increased volatility and possibly directional movement when the surprise.

Below the current market price (1.2724), we see significant support around 1.2650 and about 1.2615. Above the current market price we see significant resistance around 1.2750 and about 1.2775.

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