The rally of the EUR/USD was capped by the 1.3650 area, after climbing 180 pips from 1.3480. The pair is now retreating from the highs, attempting to hold above 1.3600, still posting a daily gain of more than 70 pips.From a technical perspective, the Talking-Forex Analysis Team see supports at 1.3530, 1.3479 and then at the 21-day lower Bollinger level at 1.3263. “On the other hand, resistance levels are seen at the 10DMA line at 1.3649 and then at 1.3799.”
An improvement in market sentiment and hopes for more action regarding the European debt crisis triggered risk appetite on markets that weakened the Dollar versus the Euro.
From Monday’s low at 1.3360 the Euro rose more than 250 pips. Despite recent price action, the pair is still on its way to the worst monthly performance since November 2010.
An improvement in market sentiment and hopes for more action regarding the European debt crisis triggered risk appetite on markets that weakened the Dollar versus the Euro.
From Monday’s low at 1.3360 the Euro rose more than 250 pips. Despite recent price action, the pair is still on its way to the worst monthly performance since November 2010.
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