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Forex: EUR/USD extends gains above 100-day SMA

FXstreet.com (Córdoba) - The euro extended gains versus the dollar and hit its highest level in nearly 2 months as risk appetite improves and US stocks reach fresh session highs.

EUR/USD accelerated to the upside, triggering stops after breaking above 1.3147 (100-day SMA) and recently peaked at 1.3183, last seen Feb 25. The pair is presently trading around 1.3175 where it records a 1.1% gain on the day.

On the upside, the 1.3200 level stands as immediate resistance for the EUR/USD, followed by 1.3245 (Feb 22 high), while on the downside, supports could now be found at 1.3115 (former resistance), 1.3080 (100-hour SMA) and 1.3030 (intraday lows/200-hour SMA).

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