Forex: EUR/USD rise above 1.40 on recovery path
- Posted Friday, July 03, 2009 -
- FXstreet.com
FXstreet.com (Barcelona) - The Euro's recovery against the Dollar
has continued in Friday's Asian session. After falling to 1.3928,
1-week low, in yesterday's American session, (coming from its 270
pips decline from 1.4201) EUR/USD has begun to risen to break above
1.4000 level to post 1.4020 as fresh intra-day high in the Asian
session. Currently the pair is trading around 1.4010/20, 0.40%
above opening price.The AceTrader Team recommends to buy dips fro
1.4010: "Although euro has rebounded after the brief but sharp sell
off to 1.3927 (Aust.) n further 'choppy' consolidation abv there is
seen with near term upside bias, reckon 1.4015/20 wud limit gain n
yield retreat later."For more information, read our latest forex
news.
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