11 Dec 2013
EUR/USD continues to threaten 1.3800
FXstreet.com (Córdoba) - The EUR/USD advance continues to falter at the 1.3800 psychological level, although the euro is among the best performers Wednesday.
After a quick drop to the 1.3740 zone during the European session, the EUR/USD resumed the upside and touched its highest level in 6 weeks at 1.3800 but lacked momentum to break decisively above the psychological level and settled in a slim range just below. "Seems inevitable that we retest the recent highs in the 1.3830s and make a run for the big barriers at 1.3850 in the next few days", said Jamie Coleman, analyst at FXBeat. "I still fear a year-end melt-up in EUR/USD which could see 1.40 tested in thin, holiday liquidity".
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3800 (daily high/psychological level), and 1.3832 (Oct 25 high). On the flip side, supports are seen at 1.3740 (Dec 11 & 10 lows) and 1.3700 (psychological level) ahead of 1.3655 (10-day SMA).
After a quick drop to the 1.3740 zone during the European session, the EUR/USD resumed the upside and touched its highest level in 6 weeks at 1.3800 but lacked momentum to break decisively above the psychological level and settled in a slim range just below. "Seems inevitable that we retest the recent highs in the 1.3830s and make a run for the big barriers at 1.3850 in the next few days", said Jamie Coleman, analyst at FXBeat. "I still fear a year-end melt-up in EUR/USD which could see 1.40 tested in thin, holiday liquidity".
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3800 (daily high/psychological level), and 1.3832 (Oct 25 high). On the flip side, supports are seen at 1.3740 (Dec 11 & 10 lows) and 1.3700 (psychological level) ahead of 1.3655 (10-day SMA).