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EUR/USD advances to fresh highs

FXstreet.com (Córdoba) - The euro gathered momentum and extended gains versus the greenback, breaking above the 1.2920 resistance area, underpinned by stocks which turned positive in Wall Street following the European close.

EUR/USD rallied to a fresh high of 1.2955 before easing slightly, and it is currently trading at the 1.2940 zone, where it prints a 0.7% daily gain.

On the upside, if EUR/USD breaks above the 1.2955/60 zone, next resistances could be faced at 1.3000 (psychological level) and 1.3030 (high May 14). On the downside, immediate support is now seen at the 1.2895 zone, where the 10- and 200-hour SMAs converge, followed by 1.2820 (daily low).

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