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EUR/USD trading close to daily high of 1.2697- FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD is trading slightly below the daily high of 1.2697reached in the Asian session.

Key quotes

"Risk aversion eased somehow, stocks struggle to trade in the green all across Europe, while US futures are also up with S&P approaching 1900 having been below it since early weekly opening, first time since May this year."

"Technically, the EUR/USD 4 hours chart shows price capped below a flat 20 SMA with momentum heading south below 100, and RSI flat around 50."

"Overall the pressure remains to the downside as long as 1.2700 holds, with a break below 1.2620 required to confirm a leg lower, towards the 1.2570 level, and steady gains above 1.2700 opening doors for a spike up to 1.2745 area first, with gains above this last pointing for a retest of recent highs at 1.2790."

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