EUR/USD better bid into closing hours

By FXstreet.com | June 27, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3642, up 0.23% on the day, having posted a daily high at 1.3646 and low at 1.3608.

EUR/USD is well placed again on the 1.36 handle having grinded higher throughout the end of this weeks session around the globe, despite a short lived pull back overnight. Meanwhile, in relation to next weeks news, Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the ECB meets next week and no action is expected. “Indeed, we see nothing new from the ECB in Q3 as it waits to gauge the impact from
its June actions." He further added that Draghi’s press conference will be closely watched for clues on further action. “After dropping down to test the $1.35 level after the June 5 easing, EUR/USD recovered and remains firmer now than the post-ECB lows."

EUR/USD Levels

Spot is presently trading at 1.3643, and next resistance can be seen at 1.3646 (Daily High), 1.3659 (Weekly Classic R1), 1.3661 (Monthly High) and 1.3672 (Daily 200 SMA). Next support to the downside can be found at 1.3642 (Yesterday's High), 1.3629 (Weekly High), 1.3624 (Hourly 20 EMA), 1.3614 (Hourly 100 SMA) and 1.3611 (Daily Open).

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