Forex: EUR/USD back above 1.3100
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - Short positions getting squeezed would be the reason behind this sudden appreciation of the single currency above 1.3110 against the buck, breaking above the previous lull around 1.3080
Collaborating with this upside, the strong readings of both the US industrial production and the manufacturing PMI have boosted the risk appetite.
At the moment, the cross is up 0.21% at 1.3105 and a break above 1.3127 (high Dec.5) would expose 1.3129 (high Oct.18) en route to 1.3140 (high Oct.17).
On the flip side, support levels are located at 1.3042 (low Dec.13) ahead of 1.3032 (MA10d) and 1.2996 (low Dec.12).
Collaborating with this upside, the strong readings of both the US industrial production and the manufacturing PMI have boosted the risk appetite.
At the moment, the cross is up 0.21% at 1.3105 and a break above 1.3127 (high Dec.5) would expose 1.3129 (high Oct.18) en route to 1.3140 (high Oct.17).
On the flip side, support levels are located at 1.3042 (low Dec.13) ahead of 1.3032 (MA10d) and 1.2996 (low Dec.12).
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