EUR/USD: there it goes again

By FXstreet.com | Updated August 15, 2014 AAA

FXStreet (Córdoba) - The EUR/USD picked up momentum during the European session and resumed the upside in another attempt to break decisively above the 1.3400 level.



Even though the EUR/USD has reached daily highs above 1.3400 over the last days, it has been consistently unable to hold above that mark. Following a phase of consolidation and without a clear catalyst the EUR/USD spiked to a daily high of 1.3391, helped by broad European equities gains and Russian President Vladimir Putin's conciliatory remarks boosting sentiment.



At time of writing, the EUR/USD is trading at 1.3382, recording a 0.13% gain Friday. The pair however, is on track to close the week with losses, for fifth time in a row.



EUR/USD technical levels



On the upside, next resistances levels could be found at 1.3415 (Aug 13 high), 1.3432 (Aug 8 high) and 1.3444 (Aug 1 high). On the other hand, supports are seen at 1.3342 (Aug 13 low), 1.3332 (2014 low Aug 6) and 1.3300 (psychological level).



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