FX : EUR/USD breaks 1.4300 and trades at daily highs
FXstreet.com (Barcelona) – The Euro's recovery against the Greenback from 1.4250 has risen further and, breaking 1.4300/05 resistance zone, has posted intra-day highs close to 1.4340 in a 90 pips up movement during the European session. Currently the pair is trading around 1.4325/35, posting 0.30% daily gains from opening price action.
According to Stoyan Mihaylov, technical analyst at Deltastock.com, 1.4310 level is crucial ti break with the current downside trend: "The negative bias has been sustained and the pair tries to break convincingly below 1.4267, en route to 1.4160. Crucial on the upside is 1.4310."
George Clement, analyst at Swiss e Trade, doubts that the USD will take a new course in these times: “The market is in a continued slowdown correction in this European morning and is currently trading at 1.4290. We see more correction to come today, after some recovery moves, down to a level of 1.4250.”
