Technically, the pair is finding resistance in a daily descendant trend line coming from 1.3861, today around 1.3620, according to Valeria Bednarik, Fxstreet.com chief strategist; as per her view, pair needs to break such level to extend gains towards the 1.3660/80 price area, while she sees strong support at the daily low area, near 1.3530, stating that only below this last, pair could lose current bullish tone.
The Euro / Dollar pair ended the day on a firm footing, having recovered from a daily low at 1.3535 to rebound past 1.3600, hitting a new weekly high at 1.3618. By NY close, the cross managed to hold most gains, closing at 1.3605.
“EUR/USD is still in position to target the 1.3621 level noted. Once that level is probed, there is some pullback potential. Though, note that it would still take a move below the 1.3505/00 support to validate any top seen near 1.3621” said the analysis team at FX Market Alerts.
source: http://www.fxstreet.com
