29 Oct 2013
EUR/USD rallies back above 1.3800
FXstreet.com (Córdoba) - The EUR/USD reversed earlier losses and rallied to fresh daily highs during the New York session after ECB official Nowotny said there isn't any tool the ECB could use against the strong euro.
The EUR/USD rose back above 1.3800 and printed a high of 1.3813 but lacked follow-through to retest last week's 2-year high at 1.3832. At time of writing, EUR/USD is trading at the 1.3805 zone, recording a 0.2% gain on the day, having been as low as 1.3753.
EUR/USD levels to watch
As for technical levels, if EUR/USD breaks above the 1.3810/15 zone, next resistances could be found at 1.3832 (2013 high Oct 25) and 1.3858 (Nov 9 2011 high). On the other hand, supports are now seen at 1.3753 (daily low) and 1.3730 (10-day SMA).
The EUR/USD rose back above 1.3800 and printed a high of 1.3813 but lacked follow-through to retest last week's 2-year high at 1.3832. At time of writing, EUR/USD is trading at the 1.3805 zone, recording a 0.2% gain on the day, having been as low as 1.3753.
EUR/USD levels to watch
As for technical levels, if EUR/USD breaks above the 1.3810/15 zone, next resistances could be found at 1.3832 (2013 high Oct 25) and 1.3858 (Nov 9 2011 high). On the other hand, supports are now seen at 1.3753 (daily low) and 1.3730 (10-day SMA).