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Forex pairs in this Article » EUR/USD
FXstreet.com (New York) - The EUR/USD foreign exchange rate recently surged to fresh intraday highs during US trading Monday.

Earlier today, a notable miss on German industrial production in recent hours did little damage to the single currency as the number still implies strong Q2 growth. Outside of this, the pair has been fairly resilient to prolonged pullbacks thus far Monday.

EUR/USD thrust has not breached resistance yet

In these moments, the EUR/USD is now trading at 1.2862 during US trading, having moved up +0.38% above its opening. Mataf.net analysts identify the next short-term measures of resistance at 1.2885, then 1.2945, and eventually 1.2984. Meanwhile, support lies below at 1.2786, onto 1.2747, and 1.2687.

EUR/USD weekly close below 1.2810/20 could signal negativity

According to the TD Securities Team, “. On the charts, the EUR/USD is sitting on a key threshold just above the low 1.2800 area. In particular, 1.2810/20 marks the neckline of a big head & shoulders on the weekly chart that began forming in the autumn of 2012. A close below that level would be a notably portend a negative signal of more downside to come.”
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