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18 Mar 2014
EUR/USD soars to fresh daily highs
FXStreet (Córdoba) - After dropping to daily lows in the wake of disappointing ZEW data, the EUR/USD bounced sharply and rallied to fresh highs as buyers took the chance to buy the euro on dips.
The EUR/USD rose more than half a cent in a matter of minutes, climbing from a low of 1.3889 to a high of 1.3942 before losing momentum. At time of writing, the EUR/USD is trading at the 1.3930 zone, a few pips up on the day ahead of the US February CPI and housing starts/permits due at 12:30GMT.
EUR/USD technical perspective
From a technical view, Valeria Bednarik, chief analyst at FXStreet notes the EUR/USD holds a positive tone in short-term charts, with scope to rise toward 1.3960 today.
The EUR/USD rose more than half a cent in a matter of minutes, climbing from a low of 1.3889 to a high of 1.3942 before losing momentum. At time of writing, the EUR/USD is trading at the 1.3930 zone, a few pips up on the day ahead of the US February CPI and housing starts/permits due at 12:30GMT.
EUR/USD technical perspective
From a technical view, Valeria Bednarik, chief analyst at FXStreet notes the EUR/USD holds a positive tone in short-term charts, with scope to rise toward 1.3960 today.