10 Apr 2014
EUR/USD lacks momentum
FXStreet (Córdoba) - The EUR/USD continues to consolidate gains at 2-week highs although the 1.3875 area is acting as strong resistance.
The EUR/USD has entered a lateral phase as it remains unable to pick momentum either side of the board. The dollar failed to benefit from better-than-expected jobless claims (300K vs. 320 exp.) leaving the pair within its European session range. Having made a daily high at 1.3876 and low at 1.3836, the EUR/USD trades virtually unchanged on the day at 1.3860.
EUR/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that EUR/USD short-term indicators maintain the bullish bias, supporting another leg higher for today. "On bearish corrections, buyers will likely surge on approaches to the 1.3820/30 area, while below this latter, 1.3780 comes as next buying line".
Bednarik, locates immediate support levels at 1.3850, 1.3825 and 1.3780, while resistance levels are seen at 1.3880, 1.3920 and 1.3960.
The EUR/USD has entered a lateral phase as it remains unable to pick momentum either side of the board. The dollar failed to benefit from better-than-expected jobless claims (300K vs. 320 exp.) leaving the pair within its European session range. Having made a daily high at 1.3876 and low at 1.3836, the EUR/USD trades virtually unchanged on the day at 1.3860.
EUR/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that EUR/USD short-term indicators maintain the bullish bias, supporting another leg higher for today. "On bearish corrections, buyers will likely surge on approaches to the 1.3820/30 area, while below this latter, 1.3780 comes as next buying line".
Bednarik, locates immediate support levels at 1.3850, 1.3825 and 1.3780, while resistance levels are seen at 1.3880, 1.3920 and 1.3960.