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18 Jun 2013
EUR/USD surges to 1.3390
FXstreet.com (Edinburgh) - A sudden burst of buying interest in the bloc currency has lifted the EUR/USD to fresh multi-month highs around 1.3390, last seen in late February.
EUR/USD turns positive, eyes on 1.3400
In light of the upcoming ZEW Survey, Lee Hardman, Currency Analyst at BTMU, added, “Sentiment amongst German financial analysts is expected to have improved further in June in anticipation of a recovery in growth in the second half of this year in Germany. Evidence of a gradual improvement in cyclical conditions in the euro-zone is helping to support the euro in the near-term”.
EUR/USD levels to watch
At the moment the pair is up 0.11% at 1.3382 and a surpass of 1.3434 (high Feb.20) would target 1.3456 (high Feb.14) en route to 1.3481 (76.4% of 1.3711-1.2740). On the downside, support levels align at 1.3295 (low Jun.14) followed by 1.3279 (low Jun.13) and finally 1.3266 (low Jun.12).
EUR/USD turns positive, eyes on 1.3400
In light of the upcoming ZEW Survey, Lee Hardman, Currency Analyst at BTMU, added, “Sentiment amongst German financial analysts is expected to have improved further in June in anticipation of a recovery in growth in the second half of this year in Germany. Evidence of a gradual improvement in cyclical conditions in the euro-zone is helping to support the euro in the near-term”.
EUR/USD levels to watch
At the moment the pair is up 0.11% at 1.3382 and a surpass of 1.3434 (high Feb.20) would target 1.3456 (high Feb.14) en route to 1.3481 (76.4% of 1.3711-1.2740). On the downside, support levels align at 1.3295 (low Jun.14) followed by 1.3279 (low Jun.13) and finally 1.3266 (low Jun.12).