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12 Mar 2014
EUR/USD advances trough 1.3900
FXStreet (Edinburgh) - The single currency is rapidly appreciating vs. the greenback on Wednesday, lifting the EUR/USD to fresh weekly highs beyond 1.3900 the figure.
EUR/USD eyes 2014 peaks at 1.3915
The pair remains buoyant as the bid tone around the EUR sharpens and promises to challenge the ytd tops near 1.3920 in the very near term. The current stubbornness around the EUR plus the recent shallow retracement would allow for further gains with interim target at 1.3915 on its way to the psychological limestone at 1.4000. “Since breaking above the $1.38 nemesis last week, lifted by the ECB lack of action and extending to $1.3915 before the weekend, the euro has been consolidating… We do suspect the euro is carving out a near-term top, but its resilience warns of upside risk”, noted the research team at BBH.
EUR/USD levels to watch
The pair is now advancing 0.27% at 1.3898 and a surpass of 1.3915 (2014 high Mar.7) would target 1.400 (psychological level) en route to 1.4172 (high Oct.31 2011). On the downside, the immediate support lines up at 1.3843 (low Mar.12) ahead of 1.3834 (low Mar.11) and finally 1.3811 (23.6% of 1.3477-1.3915).
EUR/USD eyes 2014 peaks at 1.3915
The pair remains buoyant as the bid tone around the EUR sharpens and promises to challenge the ytd tops near 1.3920 in the very near term. The current stubbornness around the EUR plus the recent shallow retracement would allow for further gains with interim target at 1.3915 on its way to the psychological limestone at 1.4000. “Since breaking above the $1.38 nemesis last week, lifted by the ECB lack of action and extending to $1.3915 before the weekend, the euro has been consolidating… We do suspect the euro is carving out a near-term top, but its resilience warns of upside risk”, noted the research team at BBH.
EUR/USD levels to watch
The pair is now advancing 0.27% at 1.3898 and a surpass of 1.3915 (2014 high Mar.7) would target 1.400 (psychological level) en route to 1.4172 (high Oct.31 2011). On the downside, the immediate support lines up at 1.3843 (low Mar.12) ahead of 1.3834 (low Mar.11) and finally 1.3811 (23.6% of 1.3477-1.3915).