EUR/USD wakes up and rises at the European opening

By FXstreet.com | July 14, 2014 AAA

FXStreet (Córdoba) - The EUR/USD woke up from its lethargic stage and rallied to fresh daily highs on broad USD sell-off at the beginning of the European session.



Following a quiet start of the week, the EUR/USD picked up momentum and rose to a 4-day high of 1.3628, supported by a positive opening in European equity markets and better risk sentiment. At time of writing, the EUR/USD is trading at 1.3620, recording a 0.10% gain on the day.



Up ahead, the Eurozone will release May industrial production figures while ECB President Draghi will speak before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Strasbourg, France.



EUR/USD technical levels



In terms of technical levels, the EUR/USD could find next resistances at 1.3650 (Jul 10 high), 1.3675 (200-day SMA) and 1.3700 (psychological level). On the flip side, supports are seen at 1.3588/7 (Jul 10 & 8 lows), 1.3575 (Jul 7 low) and 1.3565 (Jun 20 low).



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