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EUR/USD threatens 1.2900

FXstreet.com (Córdoba) - Following a dip toward the 20-hour SMA, the euro resumed the upside versus the greenback and has climbed to fresh daily highs during the American afternoon.

EUR/USD found buyers at the 1.2840 area at the beginning of the NY session, and has climbed over 50 pips to hit a fresh daily high of 1.2894 in recent dealings. At time of writing, EUR/USD is trading around 1.2880/90 where it records a 0.3% gain on the day.

In terms of technical levels, if the cross manages to regain the 1.2900 mark, next resistances are seen at 1.2930 (high May 16) and 1.2960 (200-hour SMA). On the other hand, immediate supports could be found at 1.2850 (20-hour SMA) and 1.2795 (low May 17).

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