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19 Feb 2013
Forex: EUR/USD threatens daily highs
Although still within its intraday range, the shared currency bounced from lows and rose back to the topside against the dollar, underpinned by the positive opening in Wall Street.
EUR/USD climbed around 40 pips within the last hours but the recovery was halted by the 1.3370 area, where the 100-hour SMA reinforces resistance. At time of writing, EUR/USD is trading around 1.3365, still up 0.1% on the day.
In terms of technical levels, next resistances could be found at 1.3370 (intraday high/100-hour SMA), 1.3393 (Feb 15 high/200-hour SMA) and 1.3415 (hourly high/lows Feb 14). Meanwhile supports are seen at 1.3330 (intraday low), 1.3306 (low Feb 15) and 1.3285 (Jan 24 low).
EUR/USD climbed around 40 pips within the last hours but the recovery was halted by the 1.3370 area, where the 100-hour SMA reinforces resistance. At time of writing, EUR/USD is trading around 1.3365, still up 0.1% on the day.
In terms of technical levels, next resistances could be found at 1.3370 (intraday high/100-hour SMA), 1.3393 (Feb 15 high/200-hour SMA) and 1.3415 (hourly high/lows Feb 14). Meanwhile supports are seen at 1.3330 (intraday low), 1.3306 (low Feb 15) and 1.3285 (Jan 24 low).