Euro (EUR)

The euro raised against the dollar due to ECB President Trichet's words on a possible rate hike on April. The pair reached its highest level since November 2010. Holding above its strong support level of 1.3960 might push the pair back to 1.4000 zones. If the pair will break its resistance at 1.4005 and the ECB will begin to rebalance monetary policy ahead of the Fed, we could see the Euro at 1.4500 for the long term. Overall, EUR/USD traded with a low of 1.3840 and with a high of 1.4005. Today, ECB President Trichet is expected to speak in Basel.

EUR/USD - Last: 1.3974

Resistance

1.4005

1.4050

1.4130

Support

1.3960

1.3880

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