EURUSD News And Analysis – 26th April Outlook

FOMC News – Ben Bernanke has stated that the FED are prepared to take additional balance sheet actions if required. Bernanke also advised that they “remain prepared to do more as needed to make sure that this recovery continues and that inflation stays close to target”.
The Fed has once again reiterated that rates are not likely to rise until late 2014. The monetary policy stance was unchanged.
On the back of this the EURUSD exchange rate is trading to the upside of the recent consolidation range and is at present up 0.16% following the event risk.
The dollar index is making a new low for the week at 79.00 and GBPUSD is testing the critical 1.6165 technical resistance level and attempting got break to the upside.
A resumption of the post FOMC upside trend could see a breakout above the stubborn 1.3225 area resistance going into trading on Thursday 26th.
German CPI, U.S. Unemployment Claims and Pending Home Sales feature amongst the major event risk for tomorrow on the 26th April.

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