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Forex pairs in this Article » EUR/USD (Córdoba) - The EUR/USD soared on Friday rising more than 70 pips and finished the week at 1.3664, five pips below current price.

Following the NFP report that triggered a strong decline of the US dollar across the board, the EUR/USD hit the highest price at 1.3686 but retreated afterwards to 1.3655 and since then it has been trading in a small range with resistance at 1.3680 and support at 1.3655.

Will the EUR/USD rise to test 1.3830?

The strong rally changed the short-term bias to bullish. Since the beginning of the year the pair moved mostly to the downside after being unable to confirm a break of 1.3830.

Nial Fuller from Learn to trade the Market, see some bearish pressure for the Euro near the 1.3832; considered a key resistance. “If the market should continue to retrace higher early this week, we will watch for price action sell signals while the market remains contained under that key 1.3832 resistance level to trade back down toward support,” says Fuller.
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