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Forex: EUR/USD stalls ahead of 1.3100

FXstreet.com (Córdoba) - The rally of the euro against the dollar stalled just a few pips away from the 1.3100 mark during the NY session as stocks recover after briefly dipping into the red.

After climbing nearly 100 pips throughout the day, EUR/USD posted a 3-week high of 1.3098 before finding resistance and settling in a range. At time of writing, EUR/USD is trading around 1.3090, recording a 0.6% gain on the day.

If EUR/USD manages to break above 1.3100, next resistances could be found at 1.3107 (high Mar 15) and 1.3135 (100-day SMA). On the other hand, supports are seen at 1.3005 (intraday low), 1.2968 (Apr 8 low) and 1.2950 (high Apr 4).

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