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6 Jan 2014
EUR/USD hits fresh highs after US data
FXstreet.com (Córdoba) - The EUR/USD resumed the upside and reached fresh daily highs as the greenback weakened on the back off a disappointing ISM services PMI reading.
The non-manufacturing PMI published by ISM fell to 53.0 in December from 53.9 the previous month, missing expectations of a rise to 54.6. Underpinned by data, the EUR/USD bounced from the 1.3595 area and climbed to a new high of 1.3634 before finding resistance. At time of writing, the pair is trading at the 1.3620 zone, recording a 0.2% gain on the day.
EUR/USD technical levels
As for technical levels, if the EUR/USD breaks above 1.3634 (daily high), next resistances could be found at 1.3671 (Jan 3 high) and 1.3700 (psychological level). On the other hand, supports are seen at 1.3594 (intraday level), 1.3570 (daily low) and 1.3530 (100-day SMA).
The non-manufacturing PMI published by ISM fell to 53.0 in December from 53.9 the previous month, missing expectations of a rise to 54.6. Underpinned by data, the EUR/USD bounced from the 1.3595 area and climbed to a new high of 1.3634 before finding resistance. At time of writing, the pair is trading at the 1.3620 zone, recording a 0.2% gain on the day.
EUR/USD technical levels
As for technical levels, if the EUR/USD breaks above 1.3634 (daily high), next resistances could be found at 1.3671 (Jan 3 high) and 1.3700 (psychological level). On the other hand, supports are seen at 1.3594 (intraday level), 1.3570 (daily low) and 1.3530 (100-day SMA).