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14 Mar 2013
Forex: EUR/USD regains 1.3000
The euro staged an impressive rally during the American session, recovering from yet another yearly low of 1.2910 back above 1.3000 without a clear catalyst other than better risk appetite among investors combined with thick orders.
EUR/USD climbed over 100 pips from lows and recently reached a daily high of 1.3011. At time of writing, the cross is trading around 1.3005, recording a 0.3% gain on Thursday.
On the upside the key level to recover is 1.3080 (this week's range top) followed by 1.3100 (psychological level) and 1.3130 (Mar 8 high). On the downside, supports could be found at 1.2910/00 (Mar 14 low/psychological level) and 1.2860 (200-day SMA).
EUR/USD climbed over 100 pips from lows and recently reached a daily high of 1.3011. At time of writing, the cross is trading around 1.3005, recording a 0.3% gain on Thursday.
On the upside the key level to recover is 1.3080 (this week's range top) followed by 1.3100 (psychological level) and 1.3130 (Mar 8 high). On the downside, supports could be found at 1.2910/00 (Mar 14 low/psychological level) and 1.2860 (200-day SMA).