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10 Mar 2014
EUR/USD holds above 1.3850 early in Asia
FXStreet (Córdoba) - The EUR/USD opened the week steady, moving with a bullish bias, testing the resistance zone around 1.3880. On Friday the pair reached at 1.3914, the highest price since October 2011 but then pulled back sharply finding support at 1.3850.
EUR/USD holds bullish momentum
Last week the pair rose sharply posting the highest weekly close in 29 months, after being able to consolidate above 1.3820/30. In a short-term view, the perspective still looks bullish. “In the 4 hours chart, the pair maintains a strong upward momentum despite indicator stands in overbought territory”, says Valeria Bednarik, Chief Analyst at FXStreet.
According to Bednarik, the US dollar may catch a breath “if risk sentiment takes over markets, albeit buyers will likely surge on dips, keeping price above the 1.3800 figure”.
EUR/USD holds bullish momentum
Last week the pair rose sharply posting the highest weekly close in 29 months, after being able to consolidate above 1.3820/30. In a short-term view, the perspective still looks bullish. “In the 4 hours chart, the pair maintains a strong upward momentum despite indicator stands in overbought territory”, says Valeria Bednarik, Chief Analyst at FXStreet.
According to Bednarik, the US dollar may catch a breath “if risk sentiment takes over markets, albeit buyers will likely surge on dips, keeping price above the 1.3800 figure”.