11 Dec 2013
EUR/USD nears 1.3800 again
FXstreet.com (Córdoba) - Following a quick dip and a phase of consolidation in a 20-pip range, the EUR/USD picked up momentum and climbed to fresh daily highs at the beginning of the American session.
The EUR/USD managed to break above the 1.3775 zone and stretched to a fresh 6-week high of 1.3795 just 1 pip above yesterday's peak. However, the pair has lacked momentum to break above the 1.3800 mark so far, and it is currently trading at the 1.3790 zone, recording a 0.2% gain Wednesday and with no much data in the US calendar.
EUR/USD technical outlook
"The upmove is still intact and with the reliable support at 1.3740 the outlook here is bullish, for a tighter test of 1.3832 high", said Stoyan Mihaylov, analyst at DeltaStock.com. "Initial support is projected at 1.3740, followed by the crucial 1.3680".
The EUR/USD managed to break above the 1.3775 zone and stretched to a fresh 6-week high of 1.3795 just 1 pip above yesterday's peak. However, the pair has lacked momentum to break above the 1.3800 mark so far, and it is currently trading at the 1.3790 zone, recording a 0.2% gain Wednesday and with no much data in the US calendar.
EUR/USD technical outlook
"The upmove is still intact and with the reliable support at 1.3740 the outlook here is bullish, for a tighter test of 1.3832 high", said Stoyan Mihaylov, analyst at DeltaStock.com. "Initial support is projected at 1.3740, followed by the crucial 1.3680".