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22 Nov 2013
EUR/USD consolidates near daily highs
FXstreet.com (Córdoba) - The EUR/USD continues to trade at the upper-side of today's range threatening recent highs in a rather quiet American session.
The euro was underpinned by positive German IFO data during the European trade and hit a high of 1.3538 but lost momentum and settled in a slim range just below, supported by the 1.3500 mark on the downside. At time of writing, EUR/USD is trading at the 1.3530 zone, recording a 0.3% gain Friday.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com noted that the pair holds a slightly bullish tone, supporting some short-term gains ahead, as long as it holds above the 1.3500 level. Bednarik locates immediate resistances at 1.3540, 1.3580 and 1.3625, while supports are seen at 1.3500, 1.3470 and 1.3440.
The euro was underpinned by positive German IFO data during the European trade and hit a high of 1.3538 but lost momentum and settled in a slim range just below, supported by the 1.3500 mark on the downside. At time of writing, EUR/USD is trading at the 1.3530 zone, recording a 0.3% gain Friday.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com noted that the pair holds a slightly bullish tone, supporting some short-term gains ahead, as long as it holds above the 1.3500 level. Bednarik locates immediate resistances at 1.3540, 1.3580 and 1.3625, while supports are seen at 1.3500, 1.3470 and 1.3440.