FX Strategy 17 October 2013

EUR/USD – Daily Chart


Is heading up to the 1.3670/1.3711 major resistance zone


EUR/USD’s current sharp rally has further to run. It is expected to rise above the current October high at 1.3646 and should reach the major 1.3670/1.3711 resistance area which should cap, though. It is made up of the 2004 high, April 2007 and 2010 highs as well as the January 2013 peak.

Upside pressurewill be maintained while EUR/USD trades above this week’s low at 1.3472.

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