Forex: EUR/USD eases off highs to 1.2939/40

FXstreet.com (Barcelona) - The EUR/USD has fallen off recent session highs at 1.2979 during US trading Wednesday, following the news on the Fed. As expected, the FOMC policy meeting delivered few surprises. The Fed reaffirmed its bond buying program and kept the pace of asset purchases steady at USD $85B per month. In these moments the pair is still trading positively at 1.2939/40, advancing +0.57% above its opening.

According to the Mataf.net Analyst team, after piercing resistance at 1.2946, additional means of correction can be found at 1.3021 onto 1.3073.

“Uncertainty about the plight of Cyprus looks set to hang around for a while, leaving the EUR/USD a little vulnerable. The fact the Cypriot finance minister is in Moscow for talks has buoyed hopes of some sort of deal with Russia. However, note that any deal would still have to be accepted by the Troika before a proper bailout package can be offered. We expect EUR/USD sellers to emerge around 1.3050 while Cyprus uncertainty remains.” writes the BNZ Research Team.