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6 Mar 2014
EUR/USD steadies after fresh 2014 high
FXStreet (Córdoba) - The EUR/USD rallied more than 120 pips Thursday and having broken above the 1.3800 mark, it stretched to a fresh 2014 high, underpinned by the fact the ECB refrained from signaling easing measures.
The EUR/USD cleared the 1.3825 resistance zone and reached a high of 1.3853, last seen Dec 27, before losing momentum. At time of writing, the EUR/USD is trading at the 1.3840 zone, where it records a 0.8% gain on the day. The pair however might be heading into a phase of consolidation as investors gear up for the upcoming US nonfarm payrolls tomorrow to assess the state of the economy on the other side of the Atlantic.
EUR/USD technical levels
On the upside, there is no much until 1.3890 (2013 high Dec 27) and 1.3900 (psychological level). On the other hand, supports are now seen at 1.3720 (Mar 6 low) and 1.3606/00 (Mar 5 low/psychological level).
The EUR/USD cleared the 1.3825 resistance zone and reached a high of 1.3853, last seen Dec 27, before losing momentum. At time of writing, the EUR/USD is trading at the 1.3840 zone, where it records a 0.8% gain on the day. The pair however might be heading into a phase of consolidation as investors gear up for the upcoming US nonfarm payrolls tomorrow to assess the state of the economy on the other side of the Atlantic.
EUR/USD technical levels
On the upside, there is no much until 1.3890 (2013 high Dec 27) and 1.3900 (psychological level). On the other hand, supports are now seen at 1.3720 (Mar 6 low) and 1.3606/00 (Mar 5 low/psychological level).