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4 Apr 2013
Forex: EUR/USD keeps the positive around 1.2860/65
FXstreet.com (Barcelona) - The single currency remains buoyant around 1.2860/65 on Thursday, in a very volatile session that saw the cross dips to fresh 2013 lows in the boundaries of 1.2740 just to climb soon after to levels around the 200-day moving average at 1.2880/90.
“Comments from ECB President Draghi reiterating that the commitment to the euro is "vastly under-estimated" has helped the euro claw back its earlier losses entirely and a move above $1.2855, especially on a close basis, would be a very constructive technical development”, argued Marc Chandler, Strategist at Brown Brothers Harriman.
EUR/USD is now up 0.08% at 1.2858 and a break above 1.2878 (high Apr.2) would aim to 1.2890 (MA200d) and then 1.2920 (MA21d).
On the flip side, support levels line up at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.85 of 1.2042-13711).
“Comments from ECB President Draghi reiterating that the commitment to the euro is "vastly under-estimated" has helped the euro claw back its earlier losses entirely and a move above $1.2855, especially on a close basis, would be a very constructive technical development”, argued Marc Chandler, Strategist at Brown Brothers Harriman.
EUR/USD is now up 0.08% at 1.2858 and a break above 1.2878 (high Apr.2) would aim to 1.2890 (MA200d) and then 1.2920 (MA21d).
On the flip side, support levels line up at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.85 of 1.2042-13711).