FXStreet (Córdoba) - Following a timid knee-jerk reaction to Eurozone data, the EUR/USD managed to pick up momentum from a broad weaker dollar and rallied to fresh daily highs, although the pair stalled a few pips ahead of the 1.3400 level.



The EUR/USD rose nearly 30 pips within the last minutes and reached a high of 1.3394 as investors assess the latest series of data and the dollar falls sharply across the board. At time of writing, the EUR/USD is trading at 1.3390, recording a 0.2% gain on the day.



EUR/USD technical levels



If the EUR/USD does break above 1.3400, next resistances could be found at 1.3415 (Aug 13 high), 1.3424 (21-day SMA) and 1.3444 (Aug 1 high). On the flip side, supports are seen at 1.3342 (Aug 13 low), 1.3332 (2014 low Aug 6) and 1.3300 (psychological level).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    FOMC: We think September - SG

  2. Forex News

    Dec more likely than September - Rabobank

  3. Forex News

    Global Economy, Central Banks Look for Further Improvement in GDP Data

  4. Forex News

    Fed hike moving into focus after FOMC - BBH

  5. Forex News

    EUR/USD hits fresh lows under 1.1000 after Fed statement

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!