Forex: EUR/USD nears last week's high
Forex pairs in this Article »
EUR/USD
FXstreet.com (Córdoba) - The euro has continued to push higher against the greenback as a combination of factors offered the shared currency a boost. Lower Spanish yields and Fitch comments of US credit rating combined with mixed US data took EURUSD to 1.2576 during the American session, its highest since last Thursday.
EURUSD is currently quoting at the 1.2560/65 zone, printing a 0.5% gain on the day, and eyeing its 6-week high scored last week at 1.2588 and the 1.2600 psychological barrier.
From a technical perspective, "Improved hourly conditions revive hopes of fresh attack at significant 1.2600 barrier, with break above near-term 1.2433/1.2560 congestion, required to confirm", says Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Previous barrier at 1.2534, now offers support and keeps the downside protected, as 20/55 day EMA's bullish crossover at 1.2510 zone, underpins".
EURUSD is currently quoting at the 1.2560/65 zone, printing a 0.5% gain on the day, and eyeing its 6-week high scored last week at 1.2588 and the 1.2600 psychological barrier.
From a technical perspective, "Improved hourly conditions revive hopes of fresh attack at significant 1.2600 barrier, with break above near-term 1.2433/1.2560 congestion, required to confirm", says Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Previous barrier at 1.2534, now offers support and keeps the downside protected, as 20/55 day EMA's bullish crossover at 1.2510 zone, underpins".
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