Back
17 Apr 2014
EUR/USD clears 1.3830 swing high
FXStreet (Bali) - EUR/USD was boosted in early Asia, setting a new session high of 1.3835 after recovering from its US losses at the 1.38 intersection.
The rise comes fueled by broad-based USD weakness, with the breakout of 1.6820 resistance in GBP/USD a major contributor benefiting the upward trajectory in Asian trade.
According to Valeria Bednarik, Chief Analyst at FXStreet: "Risk to the downside remains limited by the strong static support around 1.3780 and only below this level the pair will likely resume early week bearish momentum."
On the upside, after leaving 1.3830 intraday swing high behind, further EUR gains should target 1.3850/60 ahead of another test of 1.39 following April 10/11 topside failure.
The rise comes fueled by broad-based USD weakness, with the breakout of 1.6820 resistance in GBP/USD a major contributor benefiting the upward trajectory in Asian trade.
According to Valeria Bednarik, Chief Analyst at FXStreet: "Risk to the downside remains limited by the strong static support around 1.3780 and only below this level the pair will likely resume early week bearish momentum."
On the upside, after leaving 1.3830 intraday swing high behind, further EUR gains should target 1.3850/60 ahead of another test of 1.39 following April 10/11 topside failure.