EUR/USD Stretches to Fresh Highs

EUR/USD Stretches to Fresh Highs

25 April 2016, 18:26
Roberto Jacobs
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EUR/USD Stretches to Fresh Highs

EUR/USD extended gains and hit fresh daily highs during the American session after breaking above the 50-hour SMA.

EUR/USD picked up pace and climbed to a new daily peak of 1.1277 before finding resistance in a quiet session as investors adopt a cautious stance ahead of the FOMC decision later this week.

The euro managed to shrug-off disappointing German IFO data while the greenback is trading a tad softer versus European currencies and the yen.

EUR/USD technical levels

At time of writing, EUR/USD is trading at 1.1265, recording a 0.45% gain on Monday. As for technical levels, next resistances could be found at 1.1277 (Apr 25 high), 1.1308 (Apr 22 high) and 1.1335 (20-day SMA). On the other hand, supports could are seen at 1.1214 (Apr 25 low), 1.1185 (50-day SMA) and 1.1144 (Mar 24 low).


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