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Forex: EUR/USD in fresh highs around 1.3130

FXstreet.com (Barcelona) - The sentiment surrounding the single currency remains buoyant on Wednesday after the German Government gave green light for the European banking supervision, lifting the cross to the boundaries of 1.3130.

In the opinion of G.Moore and S.Osborne, FX Strategists at TD Securities, “last week’s slide off the high’s leave the EUR looking anemic (weekly “shooting star”) and vulnerable to more downside pressure. The market’s reaction to the support zone noted above just below 1.30 is likely to help determine the near-to-medium term outlook for EUR/USD”.

At the moment, the pair is advancing 0.30% at 1.3118 and a surpass of 1.3132 (high May 7) would clear the way to 1.3155 (MA100d) and then 1.3160 (high May 3).
On the downside, support levels align at 1.3068 (low May 7) followed by 1.3053 (low May 6) and 1.3033 (low May 3).

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