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9 Sep 2013
EUR/USD rallies above 1.3250
FXstreet.com (Córdoba) - The EUR/USD picked up fresh momentum and rallied to its highest level in 11 days as the pair triggered stops on the break of the 1.3220/25 and 1.3250 resistance levels.
EUR/USD breaks above several resistances
EUR/USD pushed through the 50% retracement of the broader 1.3710/1.2746 drop, and stretched to a high of 1.3262 in recent dealings as the greenback loses ground across the board. At time of writing, EUR/USD is trading at the 1.3255 zone, recording a 0.7% gain on the day.
EUR/USD eyes 1.3300
In terms of technical levels, a break above 1.3262 (daily high), could pave the way toward 1.3285 (20-day SMA) and 1.3300 (psychological level). However, if the EUR/USD falls back below 1.3200, it could retreat to 1.3160 (daily low) and then 1.3145 (200-day SMA).
EUR/USD breaks above several resistances
EUR/USD pushed through the 50% retracement of the broader 1.3710/1.2746 drop, and stretched to a high of 1.3262 in recent dealings as the greenback loses ground across the board. At time of writing, EUR/USD is trading at the 1.3255 zone, recording a 0.7% gain on the day.
EUR/USD eyes 1.3300
In terms of technical levels, a break above 1.3262 (daily high), could pave the way toward 1.3285 (20-day SMA) and 1.3300 (psychological level). However, if the EUR/USD falls back below 1.3200, it could retreat to 1.3160 (daily low) and then 1.3145 (200-day SMA).