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EUR/USD spikes to fresh highs

FXStreet (Córdoba) - EUR/USD jumped more than 30 pips and hit fresh daily highs with no clear catalysts. However, headlines about Draghi’s leadership claims may have help the move.

“What we have got is an article from Peter Spiegel in the FT where there’s further claims about Draghi’s leadership from the one and only Tim Geithner and transcripts of his book that have been seen by the FT”, said Ryan Littlestone, analyst at ForexLive.

EUR/USD broke above the 1.2440 area and reached a new daily high of 1.2457 before slowing somewhat. At time of writing, EUR/USD is trading at 1.2450, recording a 0.25% gain on Tuesday.

EUR/USD levels to watch

As for technical levels, a decisive break above 1.2460 would pave the way towards 1.2498/1.2500 (10-day SMA/psychological level) and then 1.2532 (Nov 6 high). On the other hand, supports are seen at 1.2393 (Nov 11 low), 1.2357 (2014 low Nov 7) and 1.2341 (Aug 21 2012 low).

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