Wednesday, February 23, 2011

EUR/USD 1.3735

The hegemonic currency has risen against the Greenback on Wednesday supported by buying from hedge funds and Asian central banks besides short-covering. EUR/USD reached a high of 1.3735 at the beginning of the Asian session after closing the NY session at the 1.3650 zone.

However, the Euro has lacked energy to break above this week's highs around 1.3715 and the pair has spent the last hours trading in a tight range around 1.3700 unable to pick up fresh momentum ahead of the European opening.

On the upside, above 1.3715, next resistance levels could be faced at 1.3750 ahead of 1.3790/1.3800, while on the downside, supports might be found at 1.3660, 1.3625 and 1.3580.

source: http://www.fxstreet.com

8 comments:

  1. wonder will it go back down to average

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  2. good god this is a blog i REALLY need to follow. thank you thank you thank you

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  3. Luckily the CHF is quite stable!

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  4. Man, I hope inflations stops growing so rapidly. I am getting really broke.

    ReplyDelete