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6 Aug 2013
EUR/USD extends gains above 1.3300
FXstreet.com (Córdoba) - The EUR/USD picked up fresh momentum and extended gains above 1.3300 after one Fed Lockhart reportedly said the Fed could start tapering its bond-buying program at any of 3 remaining FOMC meetings this year.
USD weighed by taper talk
Amid broad USD weakness, EUR/USD managed to break above the 1.3300 level and climbed to a high of 1.3320 in recent dealings as US stocks and commodities tumble. At time of writing, EUR/USD is trading at the 1.3310/15 zone, where it records a 0.4% rise on the day.
EUR/USD levels to watch
Immediate resistance is now seen at 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports could be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low).
USD weighed by taper talk
Amid broad USD weakness, EUR/USD managed to break above the 1.3300 level and climbed to a high of 1.3320 in recent dealings as US stocks and commodities tumble. At time of writing, EUR/USD is trading at the 1.3310/15 zone, where it records a 0.4% rise on the day.
EUR/USD levels to watch
Immediate resistance is now seen at 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports could be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low).