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6 Jan 2014
EUR/USD recovers from 1-month low
FXstreet.com (Córdoba) - The EUR/USD is rising for first time after 3 consecutive days of losses Monday, having bounced from a 1-month low of 1.3570 scored earlier.
The EUR/USD found buyers and managed to regain the 1.3600 mark during the European session helped by solid Eurozone PMI readings. The EUR/USD has reached a daily high of 1.3621 so far and it is currently trading at the 1.3615 area, recording a 0.2% gain on the day. Up ahead during the New York session, the ISM services PMI is forecast to rise from 53.9 to 54.6.
EUR/USD technical perspective
From a technical view, "The downtrend from 1.3893 peak remains intact, heading towards 1.3520, en route to 1.3396", says Stoyan Mihaylov, analyst at DeltaStock.com. "Initial intraday resistance lies at 1.3624 followed by the crucial area around 1.3710".
The EUR/USD found buyers and managed to regain the 1.3600 mark during the European session helped by solid Eurozone PMI readings. The EUR/USD has reached a daily high of 1.3621 so far and it is currently trading at the 1.3615 area, recording a 0.2% gain on the day. Up ahead during the New York session, the ISM services PMI is forecast to rise from 53.9 to 54.6.
EUR/USD technical perspective
From a technical view, "The downtrend from 1.3893 peak remains intact, heading towards 1.3520, en route to 1.3396", says Stoyan Mihaylov, analyst at DeltaStock.com. "Initial intraday resistance lies at 1.3624 followed by the crucial area around 1.3710".