by Wed, 13 Apr 2011 13:13:00 +0200
Forex: EUR/USD unable to surpass 1.4520
FXstreet.com (Barcelona) - The EUR/USD has recovered to the upside of 1.4500, however any upside momentum has been limited at yesterday´s fresh 15-month high of 1.4520. Following the recent decline in US mortgage applications, the pair is once again testing support at 1.4500 at time of writing as the market awaits direction from the upcoming US retail sales release.
Writing for the Fxstreet.com Independent Analyst Team, Valeria Bendarik suggests: “Price has been attempting to break it since past Thursday, so should be expected stops accumulating above: a break should now be explosive. First resistance above it an immediate target comes at 1.4550, followed then, by 1.4590/1.4610 price zone.”
| Technical Analysis (2011-04-13 10:45 GMT) | |
|---|---|
EUR/USD 1.4504/1.4506 - O: 1.4396 H: 1.4398 L: 1.4388 C: 1.4389 | |
| Trend | R3: 1.4584 |
 | R2: 1.4548 |
| R1: 1.4512 | |
| S1: 1.4434 | |
| S2: 1.4470 | |
| S3: 1.4506 | |
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