10 Jul 2013
EUR/USD rise pauses at 1.2860
FXstreet.com (Córdoba) - EUR/USD briefly rose above the 100-hour SMA and hit fresh daily highs during the New York session following disappointing US inventories data.
EUR/USD finds resistance at trendline
EUR/USD climbed nearly 100 pips throughout the day before stalling at the 1.2860 area, where a descendant trend-line coming from June highs around 1.3415 offered resistance. The pair has pulled back slightly to currently trade around 1.2840, where it is still up 0.5% on the day.
In terms of technical levels, immediate resistances could be found at 1.2860 (daily high/trend-line) and 1.2900 (psychological level), while supports are seen at 1.2810 (intraday support) and 1.2865 (daily low).
EUR/USD finds resistance at trendline
EUR/USD climbed nearly 100 pips throughout the day before stalling at the 1.2860 area, where a descendant trend-line coming from June highs around 1.3415 offered resistance. The pair has pulled back slightly to currently trade around 1.2840, where it is still up 0.5% on the day.
In terms of technical levels, immediate resistances could be found at 1.2860 (daily high/trend-line) and 1.2900 (psychological level), while supports are seen at 1.2810 (intraday support) and 1.2865 (daily low).