The Euro/Dollar currency pair gave a 6 week high earlier today prior to retracing under the 1.3900 level resistance. The psycho level 1.4000 level is however seen as key in the near term with added confluence as follows:
A failure to hold the current highs now brings 1.3600 into play as a potential downside target. This market has bought the eur since earlie in October and there’s no obvious sign of a reversal at present. The 76.00 dollar index level has also held intra-day and can be monitored if trading the dollar versus any other currency.
Daily Chart
Article by forex-fx-4x.com
