According to FXStreet Chief Analyst Valeria Bednarik, the EUR/USD consolidates near a fresh high of 1.3643, having stalled at the strong resistance level but maintaining the positive mood amid the general dollar weakness.

Key quotes


"Short term pullbacks found buyers in the 1.3610 level, now immediate short term support."

"The hourly chart shows indicators bouncing higher above their midlines, after correcting overbought readings, while 20 SMA extended its bullish slope and 100 one aims to cross 200 to the upside, all of which supports further gains."

"In the 4 hours chart technical readings present a mild bullish tone, with indicators advancing above their midlines albeit losing some of the upward strength."

"A price acceleration above mentioned high may lead to a test of 1.3680, Fibonacci resistance, while above it stops may get triggered and therefore result in a stronger upward move."


Filed Under:
Forex pairs in this Article » EUR/USD

comments powered by Disqus