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19 Sep 2013
EUR/USD attempts new highs at 1.3550
FXstreet.com (Edinburgh) -The bloc currency keeps pushing higher on Wednesday, lifting the EUR/USD to fresh multi-month highs around 1.3550/55.
EUR/USD remains bid
The effects of a more dovish Fed on Wednesday are quite alive today, propping up another attempt by the pair to escalate further, with not really much in terms of resistance from current levels to ytd peaks beyond 1.3700. Chief Analyst Jens Peter Sorensen at Danske Bank commented, “Given positioning and the possibility of further positive economic surprises from the euro zone, risk is still tilted towards a higher EUR/USD the coming weeks. We would also argue that in general the USD crosses have now become even more US data sensitive as upcoming US data will be pivotal in judging when or if tapering will start”.
EUR/USD key levels
The pair is now up 0.21% at 1.3550 with the next resistance at 1.3598 (high Feb.5) ahead of 1.3660 (high Feb.4) and then 1.3711 (2013 high Feb.1). On the flip side, a breakdown of 1.3501 (low Sep.19) would open the door to 1.3453 (high Aug.20) and finally 1.3399 (high Aug.28).
EUR/USD remains bid
The effects of a more dovish Fed on Wednesday are quite alive today, propping up another attempt by the pair to escalate further, with not really much in terms of resistance from current levels to ytd peaks beyond 1.3700. Chief Analyst Jens Peter Sorensen at Danske Bank commented, “Given positioning and the possibility of further positive economic surprises from the euro zone, risk is still tilted towards a higher EUR/USD the coming weeks. We would also argue that in general the USD crosses have now become even more US data sensitive as upcoming US data will be pivotal in judging when or if tapering will start”.
EUR/USD key levels
The pair is now up 0.21% at 1.3550 with the next resistance at 1.3598 (high Feb.5) ahead of 1.3660 (high Feb.4) and then 1.3711 (2013 high Feb.1). On the flip side, a breakdown of 1.3501 (low Sep.19) would open the door to 1.3453 (high Aug.20) and finally 1.3399 (high Aug.28).