EUR/USD breaks above 1.3400

By FXstreet.com | Updated August 08, 2014 AAA

FXStreet (Córdoba) - The EUR/USD is pushing to fresh daily highs as it triggered stops after breaking above the 1.3410 area.



With appetite for risk improving during the New York session, the EUR/USD managed to decisively top 1.3400 and it stretched to a fresh 3-day high of 1.3419, erasing almost completely weekly losses just hours away from the close. At time of writing, the EUR/USD is trading at the 1.3410 area, up 0.36% on the day.



EUR/USD technical outlook



From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that the EUR/USD holds a positive tone in short-term charts. “Stronger resistance stands in the 1.3430/40 price zone, and it will be only in the unlikely case of a run above it that the pair will confirm the bullish mode”, the analyst said.



Bednarik locates immediate resistances at 1.3435, 1.3475 and 1.3500, while she sees supports at 1.3360, 1.3335 and 1.3295.



You May Also Like

Related Forex Analysis
  1. Forex News

    Euro Flounders at Yearly Lows as Likelihood of ECB QE Increases

  2. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  3. Forex News

    US session recap: USD index and stocks rally for record highs

  4. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  5. Forex News

    A calm and holy night or a snowstorm of volatility? – ING

Trading Center