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12 Feb 2014
EUR/USD hits fresh high but lacks momentum
FXStreet (Córdoba) - The EUR/USD gathered some momentum and reached fresh daily highs but the euro is having a hard time finding follow-through with the advance restrained by EUR/GBP fall.
The EUR/USD rose to a high of 1.3652 in recent dealings before pulling back to its comfort zone around 1.3630/40. At time of writing, the EUR/USD is trading at the 1.3635 zone, virtually unchanged since opening. On the data front, Eurozone Industrial Production fell 0.7% in December, missing expectations of -0.3%, but data had little impact on the pair.
EUR/USD technical perspective
"Yesterday's tests at 1.3682 failed, but current slide should be considered corrective, preceding an advance towards 1.3740", says Stoyan Mihaylov, analyst at DeltaStock.com. "Initial intraday support is projected at 1.3607".
The EUR/USD rose to a high of 1.3652 in recent dealings before pulling back to its comfort zone around 1.3630/40. At time of writing, the EUR/USD is trading at the 1.3635 zone, virtually unchanged since opening. On the data front, Eurozone Industrial Production fell 0.7% in December, missing expectations of -0.3%, but data had little impact on the pair.
EUR/USD technical perspective
"Yesterday's tests at 1.3682 failed, but current slide should be considered corrective, preceding an advance towards 1.3740", says Stoyan Mihaylov, analyst at DeltaStock.com. "Initial intraday support is projected at 1.3607".