EUR/USD 1,4805

The EUR/USD rose posting one of the biggest weekly gains since the beginning of the year. The pair broke above 1.4650 on Tuesday and reached at 1.4881 on Thursday the highest price since December 7, 2009. On Friday it pulled back but managed to hold above 1.4800.

According to Danske Bank analysts the EUR/USD got strong support from the dovish message that Ben Bernanke delivered in its historic press conference on Wednesday underlining “the clear monetary divergence between the Fed and the ECB”. “We are now approaching our 3M forecast of 1.50, but further upside could be in the pipeline as the ECB maintains its hawkish tone while the Fed stays dovish”, analysts said .

On a monthly basis the pair jumped in April, rising 650 pips and posted the fifth monthly gain in a row.

source: fxstreet.com