EUR/USD manages to hold on to high ground and even advance, keeping a safe distance from the 1.29 level.
This recent strength of the euro isn’t a result of the dollar’s weakness, as other currencies are struggling against the greenback.
Apart from the absence of hawkish talk from Fed officials yesterday, the euro also enjoyed a positive current account number.
The euro-zone’s current account for the month of March surprised to the upside and leaped from 14.6 billion to 25.9 billion euros, beating expectations of a slide to 14.2 billion.
1.2960 works as resistance, followed by the round number of 1.30. Support is found at 1.2880, followed by 1.28. For more, see the euro dollar forecast.
The big event in the markets today is testimony of Ben Bernanke, beginning at 14:00 GMT.
Despite this strength, there is still pressure on the common currency. Forex Analysis: EUR/USD Leaning towards Bearish Trend Resumption
