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17 Apr 2015
EUR/USD: Closing the week up from lows
FXStreet (Guatemala) - EUR/USD is currently trading at 1.0794 with a high of 1.0849 and a low of 1.0733.
EUR/USD has been making its way along a drift to the upside in the US closing shift for the week and up to test the 1.08 handles resistance and supported by the 1.0625 ascending support line. We are closing the week with the dollar slightly stronger as positions are squared and the CPI's supported the theme of a hike this year form the Fed.
Technically, there is scope still for the 1.0861 5 month resistance line, as noted by Karen Jones, chief analyst at Commerzbank, and it is likely to be a volatile summer ahead with 1.1050 and 1.1200 being pinnacle points and 1.1450 being a minor recovery of the 1.2180 downtrend. To the downside, 1.05 and parity come as targets for the bears.
EUR/USD has been making its way along a drift to the upside in the US closing shift for the week and up to test the 1.08 handles resistance and supported by the 1.0625 ascending support line. We are closing the week with the dollar slightly stronger as positions are squared and the CPI's supported the theme of a hike this year form the Fed.
Technically, there is scope still for the 1.0861 5 month resistance line, as noted by Karen Jones, chief analyst at Commerzbank, and it is likely to be a volatile summer ahead with 1.1050 and 1.1200 being pinnacle points and 1.1450 being a minor recovery of the 1.2180 downtrend. To the downside, 1.05 and parity come as targets for the bears.