Forex: EUR/USD capped at 1.3278

[Ramon Ramirez]

Having been rising since yesterday’s European session low, at 1.3208, the EUR/USD kept on going till today and was just capped at 1.3278, almost 1-month high.

Profit taking has thrown the pair down by 20 pips, to 1.3258. Deltastock analysts don’t expect much more upside from the EUR/USD.

“The uptrend is still intact and yesterday's slide to 1.3210 support has proven to be a corrective one, so the focus is still set on 1.3290 dynamic resistance”, wrote Stoyan Mihaylov, analyst at Deltastock.com, expecting a reversal below 1.3300 for a slide towards “the lower boundary of the prolonged range, at 1.30+”.

Edited May 1, 2012 by Ramon Ramirez