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18 Apr 2013
Forex: EUR/USD hits fresh highs after strong swing
FXstreet.com (Córdoba) - The EUR/USD has seen wild moves within the last minutes. As soon as it touched the 1.3025 level, weighed by rumors of trouble in French banking, the pair found buyers and bounced sharply toward fresh daily highs.
EUR/USD surpassed the 200-hour SMA and touched a daily high of 1.3087 before finding resistance (at the 100-hour SMA) and returning to the 1.3060 zone, roughly the same level it was before the roller coaster ride started.
The pair is back pressuring daily highs at the 1.3080 zone, where it is 0.4% above its opening price. On the upside, next resistances could be found at 1.3100 and 1.3140, while supports are seen at 1.3025 and 1.3000.
EUR/USD surpassed the 200-hour SMA and touched a daily high of 1.3087 before finding resistance (at the 100-hour SMA) and returning to the 1.3060 zone, roughly the same level it was before the roller coaster ride started.
The pair is back pressuring daily highs at the 1.3080 zone, where it is 0.4% above its opening price. On the upside, next resistances could be found at 1.3100 and 1.3140, while supports are seen at 1.3025 and 1.3000.