Euro Higher on Short Covering, Hits Wall at 1.2330
- Facebook (FB) Tops Q1 EPS by 10c
- Amazon.com, Inc. (AMZN), HBO Enter Content Licensing Agreement
- Apple (AAPL) Q2 Preview: Results Seen Solid, Guidance Seen Weak and Capital Return Seen Higher
- Unusual 11 Mid-Day Movers 04/23: (HGT) (XOOM) (GWPH) Higher; (ZHNE) (UIS) (CREE) Lower
- Crescent Point Energy (CPG) to Acquire CanEra Energy for $1.1B
The spot price of the EUR/USD swung higher on Thursday, adding to Wednesday’s gains. The rally was sparked by comments from ECB president Mario Draghi. The currency faced resistance at 1.2330. From a technical perspective, this appears to be a critical level, say traders. If breached, the mostly one-sided short bet on EUR/USD could shift gears. On the other hand, if 1.2330 holds EUR/USD may consolidate prior to another leg lower back to 1.200 and beyond.
You May Also Be Interested In
- UPDATE: Crude Inventory 3.5M Barrels vs 2.7M Expected
- Philadelphia Fed Business Outlook 16.6 vs 10 Expected
- Empire State Manf. 1.29 vs 8 Expected
Create E-mail Alert Related CategoriesForex
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!