NEW YORK (Forex News Now) – The euro was rising against the greenback today, trading at 1.3240 as of around 8:05 A.M., GMT.
The euro is up 0.11% on the day and has reached a session high of 1.3259 with a low of 1.3216 so far.
This is what some of the analysts say about the heavily-traded currency pair in the near-term:
FXstreet sees EUR/USD trading in a range between 1.3100 and 1.3310, adding that the pair regained the upside mid American session, as Wall Street jumped to fresh yearly highs, and yields fell on a positive US auction, leaving the dollar weak across the board.
“Exhausted to the upside according to hourly indicators, pair could attempt some bearish corrective movements only below 1.3180 strong support for the upcoming hours. 4 hours chart shows indicators mostly flat, with no much of a bullish continuation strength; still above 1.3240, rally could extend towards the 1.3270/80 price zone, this week high,” it adds in intraday analysis.
Meanwhile, Investija.com writes in its EUR/USD analysis that the currency pair has formed new resistance barrier at 1.3270 price level, with bulls looking forward to test this barrier and extend previous bullish movement.
“At the moment, bearish confidence remains strong enough below resistance to decline price to new lows. Waiting action holds for now in order to test resistance level’s strength,” the realtime forex news analyst adds.