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10 Sep 2015
EUR/USD breaks above 1.1250 and climbs to 1-week highs
FXStreet (Córdoba) - The US dollar weakened across the board during the last hours and pushed EUR/USD to break above 1.1250. The pair jumped to 1.1279, reaching the strongest level since September 2.
The pair currently trades at 1.1265, up 0.50%. Since the beginning of the American session it has risen almost a hundred pips. On European hours bottomed at 1.1169 but then bounced to the upside and accelerated during the last minutes, as greenback hit fresh lows across the board, on diminishing expectations about a rate hike in September.
EUR/USD above key MAs
The recent rally brought the price back above the daily 20-SMA and 200-SMA and also on top of the 1.1220/50 area that in the recent past was an important technical level.
The euro is rising for the fifth day in a row against the US dollar and holds a bullish tone in the short term. To the upside, the next resistance levels to watch lie at 1.1290 and 1.1330. On the opposite direction, support might now lie at 1.1240, 1.1205 and 1.1165/70 (daily low).
The pair currently trades at 1.1265, up 0.50%. Since the beginning of the American session it has risen almost a hundred pips. On European hours bottomed at 1.1169 but then bounced to the upside and accelerated during the last minutes, as greenback hit fresh lows across the board, on diminishing expectations about a rate hike in September.
EUR/USD above key MAs
The recent rally brought the price back above the daily 20-SMA and 200-SMA and also on top of the 1.1220/50 area that in the recent past was an important technical level.
The euro is rising for the fifth day in a row against the US dollar and holds a bullish tone in the short term. To the upside, the next resistance levels to watch lie at 1.1290 and 1.1330. On the opposite direction, support might now lie at 1.1240, 1.1205 and 1.1165/70 (daily low).