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Forex: EUR/USD rallies to 1.3174

By FXstreet.com,  April 24, 2012, 02:44:00 AM EDT

FXstreet.com (Barcelona) - In early European morning ahead of equity markets' opening, the EUR/USD is rallying. Currently, the pair has printed its high at 1.3174.

Consumer Confidence in France is expected after political pressure since Sunday. The FOMC meeting will be underway to day, and will end tomorrow, with much expectations from investors.

"We favour failure and a slide back to near term support at 1.2974/54, the February low and 61.8% Fibonacci retracement. Minor support lies at 1.3174/73 ahead of 1.3045", wrote Commerzbank analyst Karen Jones.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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