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18 Oct 2013
EUR/USD fails to sustain gains
FXstreet.com (Córdoba) - The EUR/USD failed to sustain momentum and blew its chance to surpass this year's high at 1.3710 during the European session.
EUR/USD briefly rose above 1.3700 and printed its highest level since Feb 1 at 1.3703, stalling a few pips shy of its 2013 peak of 1.3710. The pair was rejected from highs and erased intraday gains to trade nearly flat at the 1.3670 zone at time of writing, with no data scheduled for the rest of the day.
EUR/USD levels to watch
On the upside, the EUR/USD has 1.3710 (2013 high Feb 1) as major resistance to break, which would open the way toward 1.3800 (psychological level) and 1.3870 (November 2011 high). On the downside, immediate support remains at 1.3660 (daily low) followed by 1.3606 (Oct 8 high) and then 1.3575 (100-hour SMA).
EUR/USD briefly rose above 1.3700 and printed its highest level since Feb 1 at 1.3703, stalling a few pips shy of its 2013 peak of 1.3710. The pair was rejected from highs and erased intraday gains to trade nearly flat at the 1.3670 zone at time of writing, with no data scheduled for the rest of the day.
EUR/USD levels to watch
On the upside, the EUR/USD has 1.3710 (2013 high Feb 1) as major resistance to break, which would open the way toward 1.3800 (psychological level) and 1.3870 (November 2011 high). On the downside, immediate support remains at 1.3660 (daily low) followed by 1.3606 (Oct 8 high) and then 1.3575 (100-hour SMA).