FXstreet.com (Barcelona) - The 1.2820 is seen as a too strong level to the Euro breaks it as the EUR/USD has attempted several times to breaks it. The EUR/USD has rallied to a maximum of 1.2819 (intra-week high) from the from intra-day low at 1.2616 reached ahead of the European session
After reach the 1.2819, the par has been rejected strongly to the 1.2750, falling around 60 pips in few minutes. Currently, the EUR/USD is trading around the 1.2765/85 band and Indicators remain bullish.
According to Valeria Bednarik, FXstreet.com Collaborator, the EUR/USD will find the 1.3030 level in the long term: 4 hours charts have just opened above the daily descendant trend line, yet the upside remains contained by the 200 EMA, where the pair already rebounded twice. Also, the pair already completed the pullback to the line and rebounded nicely. Indicators are supporting the intra-day bullish, yet only a daily close above the mentioned EMA will gave confirmation of further upside bias. Short term resistances are placed at 1.2810/20 zone, followed by 1.2855 and 1.2898. Under 1.2740, consider supports at 1.2700 and 1.2660.
Bednarik concludes: Longer term perspective above mentioned resistances, will fin next key upside level at 1.3030, form where the pair could extend close to 1.3300. Only a break under 1.2590 will reopen doors for a test of the lows at 1.2330.