19 Jan 2015
EUR/USD extends recovery above 1.1600
FXStreet (Córdoba) - EUR/USD extended the upside correction over the last hours and climbed to fresh daily highs above 1.1600 in a quiet session due to the Martin Luther King Day in US and as investors refrain from taking big positions ahead of the European Central Bank meeting on Thursday.
EUR/USD gathered some pace and climbed to a high of 1.1638 in recent dealings but faced resistance and pulled back. At time of writing, the pair is trading at the 1.1630 area, recording a 0.68% gain on Monday.
The euro touched a fresh 11-year low of 1.1459 on Friday in the aftermath of the Swiss National Bank surprise decision to remove the EUR/CHF floor and amid expectations the ECB will announce a QE program at its first meeting of the year.
EUR/USD gathered some pace and climbed to a high of 1.1638 in recent dealings but faced resistance and pulled back. At time of writing, the pair is trading at the 1.1630 area, recording a 0.68% gain on Monday.
The euro touched a fresh 11-year low of 1.1459 on Friday in the aftermath of the Swiss National Bank surprise decision to remove the EUR/CHF floor and amid expectations the ECB will announce a QE program at its first meeting of the year.