EUR/USD breaks above 1.3600

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The EUR/USD gathered momentum at the European opening and rise through the 1.3600 mark, triggering stops on the move and accelerating to a fresh 10-day high.



The EUR/USD rallied to a high of 1.3627 in a bout of USD selling. The USD weakened Wednesday after the Fed sounded more dovish than expected, and it is extending losses as European traders join the market. At time of writing, the EUR/USD is trading at the 1.3615 area, up 0.15% on the day.



EUR/USD levels to watch



As for technical levels, to the upside, next resistances are seen at 1.3627 (Jun 19 high), 1.3662 (200-day SMA) and 1.3700 (psychological level). To the downside, supports could be found at 1.3573 (10-day SMA), 1.3535 (Jun 17 low) and 1.3500 (psychological level).



You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Will Fed and Greek Elections Keep FX Volatility Boiling

  2. Forex News

    Dollar and S&P 500 Traders Hold Breath for Fed Decision

  3. Forex News

    Trading Video: EURUSD, EURJPY and EURGBP Ready for Greek Election

  4. Forex News

    Strategy Video: Euro Risks Are Not Extinguished by ECB Stimulus

  5. Forex News

    US Session Recap: Greenback profits taken off table

Trading Center