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FXstreet.com (Crdoba) - The Euro extended its gains against the Dollar and rose to 1.3975 reaching a fresh intra-day high. EUR/USD trades near the highs at 1.3965/68, 0.25% above today's opening price.
The pair is consolidating above 1.3900 and is posting gains for the second day in a row.
Analyzing the EUR/USD .James Chen, chief technical analyst at FX solutions affirms that "to the upside, within the context of the current overall downtrend, in the event of any significant breakout above the current downtrend resistance line, the key 1.4000 psychological price region should serve as an immediate resistance area."
Forex: EUR/USD rises further above 1.3970
Posted 2/2/2010 1:30 PM ET by from FXstreet.com
The pair is consolidating above 1.3900 and is posting gains for the second day in a row.
Analyzing the EUR/USD .James Chen, chief technical analyst at FX solutions affirms that "to the upside, within the context of the current overall downtrend, in the event of any significant breakout above the current downtrend resistance line, the key 1.4000 psychological price region should serve as an immediate resistance area."
