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18 Feb 2014
EUR/USD wants more, 1.3800 next?
FXStreet (Edinburgh) - The EUR/USD is extending its weekly upside, navigating in the 1.3755/60 region, just a tad lower than earlier peaks beyond 1.3770.
EUR/USD closer to 1.3800
The pair managed to break above the 1.3700-1.3720 range, helped by better sentiment surrounding the EUR (resilience) despite the mixed results from the German/EMU ZEW Survey. “The real hurdle is $1.38, which the euro flirted with last October and then again in December, managing to close above it marginally only a couple times”, noted analysts at BBH Global Currency Strategy Team.
EUR/USD levels to consider
At the moment the pair is gaining 0.36% at 1.3754 with the next resistance at 1.3770 (high Feb.18) followed by 1.3776 (2014 high Jan.2) and then 1.3800 (psychological level). On the downside, a breach of 1.3692 (daily cloud top) would aim for 1.3685 (low Feb.17) and finally 1.3674 (low Feb.14).
EUR/USD closer to 1.3800
The pair managed to break above the 1.3700-1.3720 range, helped by better sentiment surrounding the EUR (resilience) despite the mixed results from the German/EMU ZEW Survey. “The real hurdle is $1.38, which the euro flirted with last October and then again in December, managing to close above it marginally only a couple times”, noted analysts at BBH Global Currency Strategy Team.
EUR/USD levels to consider
At the moment the pair is gaining 0.36% at 1.3754 with the next resistance at 1.3770 (high Feb.18) followed by 1.3776 (2014 high Jan.2) and then 1.3800 (psychological level). On the downside, a breach of 1.3692 (daily cloud top) would aim for 1.3685 (low Feb.17) and finally 1.3674 (low Feb.14).