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09.10.201510:13 Forex Analysis & Reviews: Global macro overview for 09/10/2015

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Global macro overview for 09/10/2015:

Yesterday's FOMC minutes had confirmed a dovish outlook for the monetary policy including a rate hike possibility postponed until the next year. Moreover, the minutes revealed that the policy makers acknowledged the global sluggish recovery and increased downside risk of the economic activity mainly due to the inflation expectations. After the Fed minutes release, EUR/USD hit an over 2-week high and USD/CHF hit a near 3-week low.

The EUR/USD pair is still trading inside of the range zone. It recently has hit the 61%Fibo at the level of 1.1324. Currently, the nearest resistance is seen at the level of 1.1459 and support is found at the level of 1.1276.

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