20 Aug 2013
EUR/USD soars to 6-month high
FXstreet.com (Córdoba) - The EUR/USD broke decisively above the 1.3400 mark and extended gains to its highest in 6 months at the beginning of the American session.
EUR/USD lifted by disappointing US data
EUR/USD rallied over 50 pips and reached its highest since mid-February at 1.3434 after data showed the Chicago Fed’s National Activity index remained in negative territory for the fifth straight month in July.
However, EUR/USD lost momentum following the knee-jerk reaction and pulled back slightly. At time of writing, EUR/USD is trading at the 1.3425 zone, where it records a 0.7% gain on the day.
EUR/USD technical levels
On the upside, EUR/USD could find next resistances at 1.3434 (daily high) and 1.3455 (Feb 14 high). On the downside, immediate supports are now seen at 1.3400 (psychological level) and 1.3350 (21-hour SMA).
EUR/USD lifted by disappointing US data
EUR/USD rallied over 50 pips and reached its highest since mid-February at 1.3434 after data showed the Chicago Fed’s National Activity index remained in negative territory for the fifth straight month in July.
However, EUR/USD lost momentum following the knee-jerk reaction and pulled back slightly. At time of writing, EUR/USD is trading at the 1.3425 zone, where it records a 0.7% gain on the day.
EUR/USD technical levels
On the upside, EUR/USD could find next resistances at 1.3434 (daily high) and 1.3455 (Feb 14 high). On the downside, immediate supports are now seen at 1.3400 (psychological level) and 1.3350 (21-hour SMA).