Forex | Forex | Forex: EURUSD breaks 1.4315 and tests 1.4330 ahead ECB rate decision (03/09/2009 11:34:00)

Forex: EURUSD breaks 1.4315 and tests 1.4330 ahead ECB rate decision

FXstreet.com (Barcelona) – After several attempting to break 1.4315 resistance level during the European session, EUR/USd has finally broken this level and it has risen around 45 pips from 1.4285 support to post 1.4330 as fresh intra-day high ahead of the ECB rate decision.

Currently the pair is trading around 1.4320/30, 0.50% above today's opening price action.

Stoyan Mihaylov, analyst at Deltastock, expects a Euro higher: “EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523.”

Mihaylov concluded: “We favor the idea, that an uptrend is already on the run, aiming at 1.4344 and 1.4444, en route to 1.4653. Crucial for the intraday positive trend is 1.4253 support area.”


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