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EUR/USD hits fresh highs ahead of Bernanke

FXstreet.com (Córdoba) - The euro remains in demand, reaching fresh daily highs against the greenback at the beginning of the New York session ahead of the Bernanke testimony.

EUR/USD had been rejected from a high of 1.2954 during the European session, but with the setback being contained by the 200-hour SMA around 1.2915, the pair managed to resume the upside and even reached a fresh 1-week high of 1.2958 in recent dealings. At time of writing, EUR/USD is trading at the 1.2945/50 zone, recording a 0.3% gain on the day.

"Immediate support comes at the 1.2880/90 price zone, and only below this level the pair can regain the bearish potential seen past week", says Valeria Bednarik, chief analyst at FXstreet.com. "A break above the daily high on the other hand, will expose key psychological 1.30 mark".

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