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27 Sep 2013
EUR/USD moves off highs but holds onto gains
FXstreet.com (Córdoba) - The EUR/USD finally gathered momentum and rallied past this week's top of the range, printing a high of 1.3564 as concerns over a government shutdown has kept the greenback under pressure.
"Market has lost faith on the US as renewed concerns over debt ceiling and budget surged earlier today: sell the dollar is the name of the game this Friday", said Valeria Bednarik, chief analyst at FXstreet.com. However, EUR/USD failed to break above 1.3565 and pulled back slightly to currently trade around 1.3540, still recording a 0.4% gain on the day.
EUR/USD technical outlook
"Short term technical readings support and upward continuation, with the pair now eyeing the 1.3610/20 area on a break above 1.3567 (last week's high), and in route to 1.3710, this year high", Bednarik noted. On the other hand,the analyst locates supports at 1.3535, 1.3500 and 1.3470.
"Market has lost faith on the US as renewed concerns over debt ceiling and budget surged earlier today: sell the dollar is the name of the game this Friday", said Valeria Bednarik, chief analyst at FXstreet.com. However, EUR/USD failed to break above 1.3565 and pulled back slightly to currently trade around 1.3540, still recording a 0.4% gain on the day.
EUR/USD technical outlook
"Short term technical readings support and upward continuation, with the pair now eyeing the 1.3610/20 area on a break above 1.3567 (last week's high), and in route to 1.3710, this year high", Bednarik noted. On the other hand,the analyst locates supports at 1.3535, 1.3500 and 1.3470.