EUR/USD threatening 1.3200 following ECB (Barcelona) – The EUR/USD extends to the upside after the ECB decided to keep the official interest rate unchanged at 1.0%. The pair has added around 20 pips following the decision and has the 1.3200 barrier in its line of sight directly ahead of a slew of fundamental data from the US as well as commentary by ECB President Trichet.

Currently the EUR/USD quotes at 1.3197 where it looks to be running into slight resistance and lingers without clear impulse. Further critical levels to the upside are listed at 1.3215 (61.8% of 1.3435-1.2860), 1.3300 (Psychological Level) and 1.3325 (Daily High Jan 5). Underneath, support is placed at 1.3088 (Today Session Low), 1.3069 (200-Day MA) and 1.3022 (Daily High Jan 7).


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The Art&Science of Trading Gold
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