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17 Oct 2013
EUR/USD hits fresh 8-month highs
FXstreet.com (Córdoba) - The EUR/USD continues to push higher Thursday, having broken above the 1.3650 area to hit its highest in over 8 months at 1.3680 so far.
The euro continues to take advantage of a weakened dollar, clearing resistances on its way toward 2013 highs. If EUR/USD breaks above 1.37100, it will be trading at its highest in more than 2 years. EUR/USD has climbed more than 2 cents from yesterday's lows and records a 1.0% gain on Thursday, with US manufacturing data going virtually unnoticed.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXstreet.com notes a strong bullish momentum coming from indicators despite reaching overbought territory, pointing for a test of the 1.3710 year high. The analyst places immediate resistances at 1.3680, 1.3710 and 1.3740, while she sees supports at 1.3645, 1.3610 and 1.3570.
The euro continues to take advantage of a weakened dollar, clearing resistances on its way toward 2013 highs. If EUR/USD breaks above 1.37100, it will be trading at its highest in more than 2 years. EUR/USD has climbed more than 2 cents from yesterday's lows and records a 1.0% gain on Thursday, with US manufacturing data going virtually unnoticed.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXstreet.com notes a strong bullish momentum coming from indicators despite reaching overbought territory, pointing for a test of the 1.3710 year high. The analyst places immediate resistances at 1.3680, 1.3710 and 1.3740, while she sees supports at 1.3645, 1.3610 and 1.3570.