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Can EUR/USD hold on to this key technical breakout?
Traders will still be trying to catch their breath after a volatile session yesterday driven by key US economic data. The GDP announcement kicked off the key moves with a much weaker than expected 0.2% which sent the euro shooting higher and subsequently resulted in a 450 pip loss on the export heavy German DAX. The FOMC announcement took some edge off the moves into the close but still the moves have been incredible. The FOMC was interestingly fairly in line with the expectation that it would remain data dependent and also noted that some of the recent shocks and data weakness were “transitory” and appear likely ... (full story)
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