13 Feb 2014
EUR/USD climbs above 1.3600 in Asia
FXStreet (Córdoba) - The EUR/USD continues to recover ground in Asia and recently reached a fresh high at 1.3605 as the US dollar loses momentum against European currencies.
On Wednesday fell for the second day in a row, retreating further after being rejected from levels on top of 1.3650. The EUR/USD bottomed yesterday at 1.3560 and rebounded during the American session, rising toward 1.3600. Recently managed to break above, extending the recovery, moving at a slow pace.
EUR/USD erases weekly gains, hold bearish tone
Despite the rebound the EUR/USD lost weekly gains and at the moment of writing trades at 1.3605, 25 pips below the price it closed last week. On a wider view, the daily chart still favors the downside, after the price respected a downtrend line originated on December 30, that currently stands at 1.3670.
On Wednesday fell for the second day in a row, retreating further after being rejected from levels on top of 1.3650. The EUR/USD bottomed yesterday at 1.3560 and rebounded during the American session, rising toward 1.3600. Recently managed to break above, extending the recovery, moving at a slow pace.
EUR/USD erases weekly gains, hold bearish tone
Despite the rebound the EUR/USD lost weekly gains and at the moment of writing trades at 1.3605, 25 pips below the price it closed last week. On a wider view, the daily chart still favors the downside, after the price respected a downtrend line originated on December 30, that currently stands at 1.3670.