EUR/USD Rises Further to Fresh Weekly Highs
EUR/USD
extended gains above the 10-day SMA and scored fresh highs as the euro
benefited by the negative sentiment in financial markets while the
dollar is going through a corrective phase following sharp gains earlier
this week.
EUR/USD climbed further and peaked at 1.1446 before
losing momentum and retreating slightly. The pair was last trading at
1.1430, up 0.52% on the day, and seems poised to snap a 6-day losing
streak.
EUR/USD levels to consider
In
terms of technical levels, immediate resistances line up 1.1478 (May 6
high) and 1.1529 (May 4 high). On the other hand, supports are seen at
1.1358 (20-day SMA/May 10 low), 1.1297 (Apr 29 low) and 1.1281 (50-day
SMA).
