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Forex pairs in this Article » EUR/USD (Edinburgh) - The single currency is now rapidly gathering steam on Tuesday, boosting the EUR/USD to the area of 1.3430/40.

EUR/USD firmer on its way to 1.3450?

The weakness surrounding the USD plus stop orders being triggered above 1.3400 would be the main drivers of the current bull attempt, as risk appetite trends are creeping back to the markets. Rob Carnell, Analyst at ING, assessed, “The prospect of a year-end EUR/USD rally has been dented by a low Eurozone CPI release and the subsequent ECB response. And on broader-based measures, the dollar has not performed too poorly this year. With so much uncertainty regarding Fed policy, a clear dollar trend may be difficult to discern over the coming months. But we retain the view that the dollar should strengthen as 2014 progresses”.

EUR/USD key levels

As of writing the pair is up 0.11% at 1.3428 with the next resistance at 1.3438 (high Nov.8) followed by 1.3490 (MA10d). On the flip side, a breakdown of 1.3345 (low Nov.11) would open the door to 1.3318 (low Nov.8) and then 1.3295 (low 7 Nov.).
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