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).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD drops to fresh session lows

  2. Forex News

    Euro Bears at Risk on Sticky CPI- Outlook Remains Bearish Below 1.10

  3. Forex News

    EUR/USD might fall to 1.0755 – FXStreet

  4. Forex News

    EUR/USD testing lows around 1.0780

  5. Forex News

    Barclays – How far can the USD go? – eFXnews

Trading Center