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5 Feb 2013
Forex: EUR/USD eyes 1.3600 on rumors
The euro posted fresh highs above 1.3580 on Tuesday after rumors that the single currency would not be strong enough to trigger an intervention by the ECB are keeping alive the buying interest.
“The EUR/USD responded at trendline support beneath 1.3500 and the aggressive impulsive bullish count is valid above 1.3403. Look higher. Potential resistance before Friday’s high comes in from the 61.8% retracement of the decline at 1.3613”, underlines J.Saettele, Senior Technical Strategist at DailyFX.
At the moment, the pair is up 0.55% at 1.3589 with the next resistance at 1.3660 (high Feb.4) ahead of 1.3664 (Upper Bollinger).
On the downside, a breach of 1.3415 (low Jan.29) would open the door to 1.3377 (MA21d).
“The EUR/USD responded at trendline support beneath 1.3500 and the aggressive impulsive bullish count is valid above 1.3403. Look higher. Potential resistance before Friday’s high comes in from the 61.8% retracement of the decline at 1.3613”, underlines J.Saettele, Senior Technical Strategist at DailyFX.
At the moment, the pair is up 0.55% at 1.3589 with the next resistance at 1.3660 (high Feb.4) ahead of 1.3664 (Upper Bollinger).
On the downside, a breach of 1.3415 (low Jan.29) would open the door to 1.3377 (MA21d).