EUR/USD Climbs Further but Stalls Ahead of 1.1350
The US dollar has continued to weaken over the last hours, hit by
disappointing US data, sending EUR/USD to fresh 5-day highs above
1.1300.
EUR/USD extended gains to a peak of
1.1339, rising a few pips above the 20-day SMA, but lacked momentum to
rally further. At time of writing, the pair is trading at the 1.1330
area, posting a 0.59% daily gain, as investors attention turns to the
conclusion of the Fed’s two-day meeting tomorrow.
EUR/USD technical levels
As
for technical levels, next resistances are seen at 1.1394 (Apr 21 high)
and 1.1464 (Apr 14 high). On the flip side, supports could be faced at
1.1214 (Apr 25 low), 1.1189 (50-day SMA) and 1.1144 (Mar 24 low).
