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Forex: EUR/USD eases from highs

FXstreet.com (Córdoba) - The euro has eased back from highs against the dollar, after the German data inspired rally lost momentum when reaching a 5-day high of 1.3146.

EUR/USD pulled back to the 1.3120 zone before finding support and it is currently trading around 1.3130, where it records a 0.4% gain on the day.

The euro has been underpinned this week by better-than-expected German data, but it is having a hard time trying to sustain gains and has been unable to break above the post-NFP report high near 1.3160.

As for technical levels, if EUR/USD manages to break above the 1.3145 area, next resistances are seen at 1.3155/60 (100-day SMA/high May 3) and 1.3185 (high Apr 30). On the other hand, supports could be found at the 1.3065/70 zone (lows May 7 & 8) followed by 1.3033 (low May 3).

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