14 Oct 2013
EUR/USD rallies toward 1.3600
FXstreet.com (Córdoba) - The US dollar came under renewed pressure early during the American session in holiday-thinned markets, with EUR/USD rallying to fresh highs.
EUR/USD triggered stops and jumped more than 40 pips in a matter of minutes, reaching a 5-day high just ahead of the 1.3600 psychological level as US futures point for a negative opening weighed by the budget deadlock. At time of writing, EUR/USD is trading at the 1.3590 zone, 0.2% above its opening price, having peaked at 1.3597.
EUR/USD levels to watch
If EUR/USD does break above 1.3600, it could extend gains to 1.3645 (Oct 3 high) and then 1.3660 (Feb 4 high). On the flip side, supports are now seen at 1.3545 (daily low) and 1.3520 (21-day SMA) ahead of 1.3500 (psychological level).
EUR/USD triggered stops and jumped more than 40 pips in a matter of minutes, reaching a 5-day high just ahead of the 1.3600 psychological level as US futures point for a negative opening weighed by the budget deadlock. At time of writing, EUR/USD is trading at the 1.3590 zone, 0.2% above its opening price, having peaked at 1.3597.
EUR/USD levels to watch
If EUR/USD does break above 1.3600, it could extend gains to 1.3645 (Oct 3 high) and then 1.3660 (Feb 4 high). On the flip side, supports are now seen at 1.3545 (daily low) and 1.3520 (21-day SMA) ahead of 1.3500 (psychological level).