EUR/USD Climbs Further but Stalls Ahead of 1.1350

EUR/USD Climbs Further but Stalls Ahead of 1.1350

26 April 2016, 16:35
Roberto Jacobs
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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).


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