22 Oct 2013
EUR/USD extends gains, eyes 1.3800
FXstreet.com (Córdoba) - The EUR/USD extended gains to its highest level in nearly 2 years following the latest string of US data including better-than-expected Richmond Fed manufacturing index and construction spending.
EUR/USD reaches highest since Nov 2011
The EUR/USD broke above previous highs and peaked at 1.3768 in recent dealings as diminishing prospects the Fed could begin taper stimulus this year weighed on the dollar. At time of writing, EUR/USD is trading at 1.3765, recording a 0.6% daily gain.
EUR/USD eyes 1.3800
On the upside, if EUR/USD breaks above 1.3768, next resistances could be found at 1.3800 (psychological level) and 1.3808 (Nov 14 2011 high). On the other hand, supports are now seen at 1.3710 (former 2013 high) and 1.3660 (daily low).
EUR/USD reaches highest since Nov 2011
The EUR/USD broke above previous highs and peaked at 1.3768 in recent dealings as diminishing prospects the Fed could begin taper stimulus this year weighed on the dollar. At time of writing, EUR/USD is trading at 1.3765, recording a 0.6% daily gain.
EUR/USD eyes 1.3800
On the upside, if EUR/USD breaks above 1.3768, next resistances could be found at 1.3800 (psychological level) and 1.3808 (Nov 14 2011 high). On the other hand, supports are now seen at 1.3710 (former 2013 high) and 1.3660 (daily low).