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EUR/USD makes another attempt at 1.3400

FXStreet (Córdoba) - The EUR/USD took another step higher and rose briefly above the 1.3400 level, with the rally being propelled by USD weakness more than euro self-strength.

Falling US yields and disappointing jobless claims are taking its toll on the greenback, which is losing ground against most rivals. The euro on the other hand, managed to shrug off disappointing GDP figures and is among the best performers today.

The EUR/USD snuck a peek above 1.3400 and scored a high of 1.3407 before pulling back slightly. At time of writing, the EUR/USD is trading at 1.3392, still up 0.22% on the day.

EUR/USD technical outlook

Valeria Bednarik, chief analyst at FXStreet, notes the EUR/USD short-term charts support mild bullish strength. “In the 4 hours chart price advances above its 20 SMA that remains flat around 1.3370, while momentum grinds higher above its midline, supporting the shorter term view”.

Bednarik locates next resistance levels at 1.3400, 1.3440 and 1.3485, while suppors are seen at 1.3370, 1.3330 and 1.3295.

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