27 Dec 2013
EUR/USD retraces gains after steep rally
FXstreet.com (Córdoba) - After rallying to a fresh 2-year high a few pips shy of 1.3900, the EUR/USD pulled back sharply amid profit taking, with price moves still exacerbated by low liquidity.
EUR/USD holds above 1.3800
The EUR/USD peaked at 1.3891 during the European session but found resistance and retraced some of its intraday gains, sliding to the 1.3805 zone most recently. At time of writing, the EUR/USD is trading at the 1.3810 zone, still recording a 0.9% advance since opening.
EUR/USD technical levels
As for technical levels, immediate supports could be found at the 1.3800 area and 1.3689 (daily low). On the other hand, if EUR/USD resumes the rally, resistances are seen at 1.3891 (2013 high Dec 27) and 1.3900 (psychological level) followed by 1.3960 (Oct 25 2011 high).
EUR/USD holds above 1.3800
The EUR/USD peaked at 1.3891 during the European session but found resistance and retraced some of its intraday gains, sliding to the 1.3805 zone most recently. At time of writing, the EUR/USD is trading at the 1.3810 zone, still recording a 0.9% advance since opening.
EUR/USD technical levels
As for technical levels, immediate supports could be found at the 1.3800 area and 1.3689 (daily low). On the other hand, if EUR/USD resumes the rally, resistances are seen at 1.3891 (2013 high Dec 27) and 1.3900 (psychological level) followed by 1.3960 (Oct 25 2011 high).