4 Mar 2014
EUR/USD consolidates ahead of NY open
FXStreet (Córdoba) - The EUR/USD managed to advance Tuesday as risk aversion eased following reports that Russian troops on exercises near Ukraine have been ordered back to base.
The EUR/USD climbed more than half a cent and reached a high of 1.3773 during the European trade but lacked strength to break decisively above that level and was confined to a phase of consolidation ahead of the New York open. At time of writing, the EUR/USD is trading at the 1.3760 zone, still up 0.2% on the day, with no first-tier data scheduled for today.
EUR/USD technical outlook
"Yesterday's slide from 1.3823 high is still limited above 1.3725 support, and my outlook here is bullish, for a break through the crucial 1.3790 resistance, en route to 1.3893", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial on the senior frames is 1.3640 low".
The EUR/USD climbed more than half a cent and reached a high of 1.3773 during the European trade but lacked strength to break decisively above that level and was confined to a phase of consolidation ahead of the New York open. At time of writing, the EUR/USD is trading at the 1.3760 zone, still up 0.2% on the day, with no first-tier data scheduled for today.
EUR/USD technical outlook
"Yesterday's slide from 1.3823 high is still limited above 1.3725 support, and my outlook here is bullish, for a break through the crucial 1.3790 resistance, en route to 1.3893", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial on the senior frames is 1.3640 low".