6 Jun 2013
EUR/USD hits fresh 4-week high
FXstreet.com (Córdoba) - The euro picked up momentum and extended gains versus the dollar after ECB President Mario Draghi said the bank is technically ready to introduce negative deposit rates, although he sees no reason to act on that at the moment.
EUR/USD rose to a fresh 4-week high of 1.3170 following the comments, but found resistance and pulled back slightly. At time of writing, EUR/USD is trading at the 1.3160 area, where it records a 0.5% daily gain.
If EUR/USD manages to break decisively above 1.3170, next resistances are seen at 1.3200 (psychological level) and 1.3240 (May 1 high). On the other hand, supports are seen at 1.3100 (psychological level/100-day SMA) and 1.3075 (daily low).
EUR/USD rose to a fresh 4-week high of 1.3170 following the comments, but found resistance and pulled back slightly. At time of writing, EUR/USD is trading at the 1.3160 area, where it records a 0.5% daily gain.
If EUR/USD manages to break decisively above 1.3170, next resistances are seen at 1.3200 (psychological level) and 1.3240 (May 1 high). On the other hand, supports are seen at 1.3100 (psychological level/100-day SMA) and 1.3075 (daily low).