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Forex: EUR/USD eyes 1.3400

After breaking above 1.3370 the euro gathered enough steam to make a new approach to the 1.3400 area against the greenback, underpinned by broad gains in European stocks.

However, the EUR/USD stalled at 1.3393 where the resistance faced on Feb 15 is reinforced by the 200-hour SMA just. At time of writing, EUR/USD is trading around 1.3390, where it posts a 0.3% gain on the day.

If the cross manages to break above 1.3400, next resistances are seen at 1.3415 (hourly high/lows Feb 14). Meanwhile supports are seen at 1.3330 (intraday low), 1.3306 (low Feb 15) and 1.3285 (Jan 24 low).

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