20 Aug 2013
EUR/USD pauses at 1.3450
FXstreet.com (Córdoba) - The EUR/USD found interim resistance at the 1.3450 area after scoring a fresh 6-month high, underpinned by weaker-than-expected US data.
EUR/USD triggered stops on the break of the 1.3400 level and rose toward its highest since Feb 14 at 1.3451 before losing momentum and pulling back slightly. EUR/USD is currently trading at the 1.3430 area, still 0.8% above its opening price.
EUR/USD keeps the bullish tone
According to Valeria Bednarik, chief analyst at FXstreet.com, even though indicators turned flat in 1-hour charts, the EUR/USD maintains a quite bullish tone in bigger time frames, which supports further advances. “Next resistance level comes around 1.3450, and once above, the road is pretty clear towards the 1.3510 price zone”, the analyst said.
EUR/USD triggered stops on the break of the 1.3400 level and rose toward its highest since Feb 14 at 1.3451 before losing momentum and pulling back slightly. EUR/USD is currently trading at the 1.3430 area, still 0.8% above its opening price.
EUR/USD keeps the bullish tone
According to Valeria Bednarik, chief analyst at FXstreet.com, even though indicators turned flat in 1-hour charts, the EUR/USD maintains a quite bullish tone in bigger time frames, which supports further advances. “Next resistance level comes around 1.3450, and once above, the road is pretty clear towards the 1.3510 price zone”, the analyst said.