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13 Feb 2014
Flash: EUR/USD: 1.3690 still a hard bone to break – FXStreet
FXStreet (Córdoba) - Valeria Bednarik, chief analyst at FXStreet notes that EUR/USD holds a positive tone but the 1.3690 area is a tough resistance to break.
Key quotes
"The pair recovered strongly early Europe, with the greenback underperforming against most of its rivals. But it was US disappointing employment and retail sales figures that pushed the EUR/USD to a fresh two weeks high of 1.3691".
"The level has probe strong in the past and remains capping the upside, albeit seems bulls are not giving up so easily this time. The hourly chart shows price well above its moving averages and indicators heading strongly north despite in overbought territory, supporting further short term gains".
"In the 4 hours chart technical readings stand in neutral territory, but price holding well above moving averages, supporting the shorter term view".
"Support levels: 1.3550 1.3510 1.3470. Resistance levels: 1.3590 1.3620 1.3655".
Key quotes
"The pair recovered strongly early Europe, with the greenback underperforming against most of its rivals. But it was US disappointing employment and retail sales figures that pushed the EUR/USD to a fresh two weeks high of 1.3691".
"The level has probe strong in the past and remains capping the upside, albeit seems bulls are not giving up so easily this time. The hourly chart shows price well above its moving averages and indicators heading strongly north despite in overbought territory, supporting further short term gains".
"In the 4 hours chart technical readings stand in neutral territory, but price holding well above moving averages, supporting the shorter term view".
"Support levels: 1.3550 1.3510 1.3470. Resistance levels: 1.3590 1.3620 1.3655".