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Forex pairs in this Article » EUR/USD (San Francisco) - After retreating from 1.3683, highest since February 1, the EUR/USD found support at 1.3655 where the pair bounced back to test previous highs. Currently the Euro to Dollar exchange rate is at 1.3670.

Is the EUR/USD focused to test the 1.3710 2013 year high? Valeria Bednarik think so, "Despite the extreme overbought readings, the pair has barely retraced its gains and consolidates near mentioned high [1.3683], supporting further gains for the upcoming sessions." Bednarik affirms that "1.3710 this year high comes as immediate resistance level and stops above should be large: once triggered expect the pair to advance steadily towards 1.3830 area, next meaningful resistance level."

EUR/USD technical levels

Currently, the EUR/USD is trading at 1.3675, 1.05% positive on the day. The short term perspective is slightly bullish according to the trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.

However, there is risk of a verbal push back from ECB officials; last weeks high has been breached at 1.3607 and so too has the cycle high at 1.3646 which now opens the risk to this years 1.3711 summit. Resistance levels are at 1.3680, 1.3710 and 1.3745. On the downside supports are at 1.3645, 1.3610 and 1.3570.
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