FXstreet.com (Barcelona) - The EUR/USD broke through the 1.3200 psychological level during the European morning after some previous hesitation. The market is trading 0.24% higher on Monday, Christmas Eve. Holiday season is known to work on thin volumes.
The EUR/USD rally found a high at 1.3216, so far, totalling 40 pips gained since the FX market reopened this week. Varengold Reasearch Bank analysts note the double bounce at the support level around 1.2889 in November, before the bulls took control of the pair and sending the EUR/USD towards 1.3285 resistance.
“There a W formation caused a weakening down to the support level around 1.3167 again by entering the upper channel of the fan”, they wrote, indicating signs of recovery (through DeMarker and OsMA), why another test of this hurdle might be seen.
The EUR/USD rally found a high at 1.3216, so far, totalling 40 pips gained since the FX market reopened this week. Varengold Reasearch Bank analysts note the double bounce at the support level around 1.2889 in November, before the bulls took control of the pair and sending the EUR/USD towards 1.3285 resistance.
“There a W formation caused a weakening down to the support level around 1.3167 again by entering the upper channel of the fan”, they wrote, indicating signs of recovery (through DeMarker and OsMA), why another test of this hurdle might be seen.
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