Forex: Cautiously bullish on EUR/USD - FXWW
Forex pairs in this Article » EUR/USD
FXstreet.com (San Francisco) - EURUSD appears to have regained the upside after Thursday's sharp rally to fresh 2-week highs above 1.3000, now hovering around the 1.3015 mark as trading in Asia gets underway. "EURUSD has finally broken out of its short-term range trade and is currently stalling at the 61.8% retracement of the 1.3170/1.2800 fall which comes in at 1.3030," observes Sean Lee, founder of FXWW. Mr. Lee also notes that "there is important technical resistance (double-top neckline) looming at 1.3080, so I'd be careful about getting too bullish until that level has been breached," he says.