EUR/USD spikes to fresh daily highs, then retreats

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD rose to fresh session highs during the American session as the euro strengthened broadly, extending its recovery from the 1.0800 area against the dollar.

    EUR/USD climbed to a daily peak of 1.0881 in recent dealings, although the spike faltered quickly, sending the pair back to the 1.0850 area. At time of writing, the pair is trading at 1.0847, just a few pips below its opening price and off a daily low of 1.0804.

    Risk sentiment stabilized somewhat on Wednesday, following upbeat Chinese data, leaving most pairs in consolidation mode, subject to intraday volatility but within familiar ranges.

    Euro rises across the board

    The euro strengthened against other rivals as well in recent dealings, climbing to its highest level in more than three months versus the franc at 1.0953 and reaching a weekly high versus the yen at 128.53.
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