Forex: EUR/USD quiet around 1.3450

EUR/USD is currently dealing with the 1.3450, little moved since late London session, when SNB chairman comments sparkled the single currency to above the 1.3400 handle coming from daily lows at 1.3366, which finally topped for the day at 1.3475 by early NY session, helped on risk appetite. The pair has broken above a neckline around the 1.3420 level, leaving behing a reversed head and shoulders pattern visible up to the 1H chart now targeting the 1.3500 round while above the mentioned neck line.

As for Valeria Bednarik, Chief Analyst at Fxstreet.com, “with a shy bullish tone according to the hourly chart,” says the analyst about the EUR/USD, “where indicators stand in positive territory and 20 SMA gains bullish slope below current price, offering support now around 1.3420. Still, price needs to overcome static resistance around 1.3485 to resume the upside,” she concludes.

Valeria spots support levels at: 1.3420, 1.3270 and 1.3230, while resistance levels at: 1.3485, 1.3510, 1.3545.