11 Nov 2013
EUR/USD rises above 1.3400
FXstreet.com (Córdoba) - The EUR/USD gathered strength during the European session and managed to advance toward 1.3400 after dipping to near 1.3300 Friday.
EUR/USD picks up pace
The EUR/USD bottomed out at 1.3316 Friday after the US NFP came in stronger than expected but managed to hold above the post GDP low. Following a mild bounce and a phase of consolidation, the EUR/USD picked up pace and rose to above 1.3400 Monday, printing a high of 1.3404 before easing slightly.
However, in the absence of economic data and amid the US Veterans Day holiday, the EUR/USD might have a hard time trying to find inspiration. At time of writing, the pair is trading at 1.3400, recording a 0.3% gain on the day.
EUR/USD levels to watch
As for technical levels, if EUR/USD managed to decisively break above 1.3400, next resistances line up at 1.3436 (Nov 8 high) and 1.3448 (100-hour SMA) ahead of 1.3500 (psychological level). On the other hand, supports are seen at 1.3345 (daily low), 1.3316 (Nov 8 low) and 1.3295 (Nov 7 low).
EUR/USD picks up pace
The EUR/USD bottomed out at 1.3316 Friday after the US NFP came in stronger than expected but managed to hold above the post GDP low. Following a mild bounce and a phase of consolidation, the EUR/USD picked up pace and rose to above 1.3400 Monday, printing a high of 1.3404 before easing slightly.
However, in the absence of economic data and amid the US Veterans Day holiday, the EUR/USD might have a hard time trying to find inspiration. At time of writing, the pair is trading at 1.3400, recording a 0.3% gain on the day.
EUR/USD levels to watch
As for technical levels, if EUR/USD managed to decisively break above 1.3400, next resistances line up at 1.3436 (Nov 8 high) and 1.3448 (100-hour SMA) ahead of 1.3500 (psychological level). On the other hand, supports are seen at 1.3345 (daily low), 1.3316 (Nov 8 low) and 1.3295 (Nov 7 low).