FXstreet.com (Barcelona) - After rising around 125 pips from 1.2964 to 1.3090, fresh intra-day high, the EUR/USD has been rejected to 1.3050, currently the pair is trading around 1.3055/65, 0.30% increases so far today from opening price at 1.3023.
According to Valeria Bednarik, collaborator at FXstreet.com, the Euro is in an upside momentum: Moving in a tight range between 1.2890 and 1.3043, pair attempt to break to the downside and failed, quickly regaining the upper side of the range, breaking above the 20 SMA and erasing early losses. Momentum cut the 100 line, suggesting further gains in the pair after breaking also above the range with the publication of the S&P home price index in the U.S.
Resistance and support levels, according to Bednarik, stand as follows: RSI supports further continuation, with next static resistance around 1.3090 (previous hourly lows and 200 EMA zone), and above 1.3130. Supports, under 1.3040 will be at 1.3010, 1.2985 and 1.2955 zone.
Anna Coulling, analyst at Master The Markets, says : The Euro dollar is not overly busy as the currency pair extend highs to a pip or two above USD1.3050, traders say, with chatter elsewhere pointing to a US bank as a recent buyer of the pair. Liquidity remains a concern, perhaps allowing exaggerated moves. Offers mentioned USD1.3080 now ahead of earlier noted supply at USD1.3090/00.
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