FXstreet.com (CÃ³rdoba) - The Euro rose from 1.4220 to 1.4275, recovering from previous losses and stopped a few pips below intra-day high that lies at 1.4282. EUR/USD is now pulling back and testing a support at 1.4260. Current price at 1.2456/60 is 0.10% above today's opening price. Above intra-day high the next resistance lies at 1.4300 and 1.4325. On the downside, support is located 1.4220; 1.4200 and 1.4170.
Michael J. Malpede, analyst at Easy Forex affirms: As the global economy recovers currencies linked to growth will likely outperform. US equity rally continues to struggle despite improving US economic data. This may generate broader concern about recent improvements in risk sentiment and outlook for the global recovery as investors remain concerned about whether the recent improvement in economic data is sustainable. Early withdrawal of quantitative ease and the winding down of fiscal stimulus may present major headwinds for the global recovery. The Feds Lacker hinted that the Fed may soon be reducing quantitative ease and said the US may not need all planed Fed stimulus.