Forex: EUR/USD jumps further, 1.2377
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EUR/USD
FXstreet.com (Barcelona) - The EURUSD continues to print new highs on the day as it retraces the July decline and gets closer to July-5 closing price of 1.2390, ahead of the psychological level at 1.2400. The current high is at 1.2377 after extending gains above the 1.2330 resistance region.
The US consumer sentiment by Reuters/Michigan improved to 72.3, against unchanged expectations of 72, which provides more risk sentiment. The EURUSD is still pricing in the bond buying news about the ECB/EFSF as the market prepares for the week close.
"In the 4 ours chart pair is finding resistance at 200 EMA around 1.2370, while the overall bias remains bullish, with scope now for a test of the 1.2410 price zone", wrote FXstreet.com independent analyst Valeria Bednarik.
The US consumer sentiment by Reuters/Michigan improved to 72.3, against unchanged expectations of 72, which provides more risk sentiment. The EURUSD is still pricing in the bond buying news about the ECB/EFSF as the market prepares for the week close.
"In the 4 ours chart pair is finding resistance at 200 EMA around 1.2370, while the overall bias remains bullish, with scope now for a test of the 1.2410 price zone", wrote FXstreet.com independent analyst Valeria Bednarik.
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