Forex: EUR/USD triggering stops above 1.3600

FXstreet.com (Barcelona) - EURUSD has finally breached above the 1.3600 round level for first time since mid Nov 2011, last at 1.3608, off fresh 14-month highs at 1.3619, following all the stops triggered at that round line. The pair advances ahead of key risk event later on at 13:30 GMT in the form of US NFP. Against Yen, Euro had this past January its biggest monthly gain since late year 2000.

"As for the short term," Valeria Bednarik, Chief Analyst at Fxstreet.com, notes: "the hourly chart shows a quite limited bullish tone as per recent range, while in bigger time frames the picture is quite clearer, with 20 SMA heading strongly up below current price and RSI bouncing higher from 70. A weekly close above 1.3600 after the employment report's euphoria settles, will left doors open for a test of the 1.3850 area later this month," she concludes.

Valeria sees support levels at: 1.3540, 1.3510 and 1.3480, while resistance levels at: 1.3580, 1.3620 and 1.3660.