EUR/USD nears 1.3400 as dollar weakens

By FXstreet.com | August 14, 2014 AAA

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).



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