10 Apr 2014
EUR/USD warming up for 1.3900?
FXStreet (Edinburgh) - The single currency is now trading on a firmer tone, pushing the EUR/USD to a test of the key barrier at 1.3900.
EUR/USD in 3-week highs
EUR-bulls want more. The pair is pushing higher backed by the generalized weakness around the greenback, posting fresh 3-week peaks in levels just shy of 1.3900 the figure. Analysts at BTMU remain bullish on the pair, adding, “Still with no major developments in the week ahead to alter the positive EUR/USD momentum, we see a high risk of EUR/USD testing the pre-FOMC high of the year of 1.3967. A brief test over 1.4000 is also possible and this move if it materialises will only reinforce to the ECB that talk is cheap and action is required”
EUR/USD levels to watch
As of writing the pair is up 0.24% at 1.3889 with the next resistance at 1.3897 (76.4% of 1.3967-1.3672) ahead of 1.3935 (high Mar.19) and finally 1.3966 (high 2014 Mar.13). On the downside, a breach of 1.3826 (low Apr.10) would target 1.3810 (21-d MA) and then 1.3780 (low Apr.9).
EUR/USD in 3-week highs
EUR-bulls want more. The pair is pushing higher backed by the generalized weakness around the greenback, posting fresh 3-week peaks in levels just shy of 1.3900 the figure. Analysts at BTMU remain bullish on the pair, adding, “Still with no major developments in the week ahead to alter the positive EUR/USD momentum, we see a high risk of EUR/USD testing the pre-FOMC high of the year of 1.3967. A brief test over 1.4000 is also possible and this move if it materialises will only reinforce to the ECB that talk is cheap and action is required”
EUR/USD levels to watch
As of writing the pair is up 0.24% at 1.3889 with the next resistance at 1.3897 (76.4% of 1.3967-1.3672) ahead of 1.3935 (high Mar.19) and finally 1.3966 (high 2014 Mar.13). On the downside, a breach of 1.3826 (low Apr.10) would target 1.3810 (21-d MA) and then 1.3780 (low Apr.9).