OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/USD remains capped by 1.3070/75 area

FXstreet.com (Córdoba) - The euro made a marginal new high against the dollar at the beginning of the NY session, as despite lingering woes in Europe, risk appetite encouraged some dollar selling buying.

EUR/USD however, has failed once again to decisively overcome the 1.3070/75 resistance area and after printing a fresh 3-week high of 1.3073, it pulled back toward 1.3045. At time of writing, EUR/USD is trading around 1.3050 where it records a 0.3% gain since opening.

Having set a higher high today, the EUR/USD maintains a bullish tone, according to Valeria Bednarik, chief analyst at FXstreet.com. "The upside remains open towards key 1.3310 area, 38.2% retracement of the latest daily fall", the analyst commented.

Bersani once again rules out coalition with Berslusconi

Pier Luigi Bersani, the leader of the Italian center-left Democratic Party, which in February secured the majority in the Lower House but not in the Senate, said today that he plans to hold a meeting with Silvio Berlusconi, the head of the center-right party, although he still rejects the possibility of forming a coalition with him.
Read more Previous

US Wholesale Inventories: -0.3% in Feb from 0.8% in Jan

Read more Next
Start livechat