8 Aug 2013
EUR/USD extends gains, eyes 1.3400
FXstreet.com (Córdoba) - The EUR/USD broke decisively above the 1.3370/75 resistance area and triggered stops, extending gains to a fresh 7-week high during the American session.
EUR/USD reaches fresh highs, pauses ahead of 1.3400
The EUR/USD reached its highest since Jun 19 at 1.3394 in recent dealings, as dollar selloff intensified across the board. However, the pair lacked determination to overtake the 1.3400 level at this first attempt and pulled back slightly instead.
EUR/USD maintains the positive tone
At time of writing, EUR/USD is trading around 1.3385, where it records a 0.4% gain on the day. From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD maintains the positive tone. “Rallies towards 1.3415 June high are favored, as long as retracements find support in the 1.3300 area”, Bednarik said.
EUR/USD reaches fresh highs, pauses ahead of 1.3400
The EUR/USD reached its highest since Jun 19 at 1.3394 in recent dealings, as dollar selloff intensified across the board. However, the pair lacked determination to overtake the 1.3400 level at this first attempt and pulled back slightly instead.
EUR/USD maintains the positive tone
At time of writing, EUR/USD is trading around 1.3385, where it records a 0.4% gain on the day. From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that EUR/USD maintains the positive tone. “Rallies towards 1.3415 June high are favored, as long as retracements find support in the 1.3300 area”, Bednarik said.