The U.S Energy Information Administration said in its weekly report today that crude oil inventories increased by 4.591 million barrels in the week ended September 15. Market analysts’ had expected a crude-oil to build 3.493 million barrels, from 5.888 million barrels a week earlier.
These mixed data is likely to keep the pair consolidation within 49.75/50.83 range, a break above 50.83 before FOMC is unlikely, anyway, above 50.83 would open 52.20, further upside, resistance comes at the 54.00 levels. Below 49.75 will aim 48.54 levels…
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