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Forex: EUR/USD accelerates to test daily highs at 1.2975

FXstreet.com (San Francisco) - The Euro is attempting to recover ground against the Dollar following today's opening gap. The single currency is trading under pressure on the back of the Cyprus 'corralito'. After rising 50 pips from 1.2920 in the last hour, the EUR/USD has risen to test the 1.2970, intra-day high.

Currently the pair is trading at 1.2955, 0.35% above opening price action. The EUR/USD is inside a slightly bullish trend according to the FXstreet.com Forex Studies. CCI and Momentum are bullish in the 1-hour chart while the MACD and Stochastic are neutral.

According to Valeria Bednari, FXstreet.com analyst, support levels are at 1.2910, 1.2880 and 1.2840. On the downside, resistances are at 1.2970, 1.3010 and 1.3045.

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