FXstreet.com (Córdoba) - The euro took another step higher andprinted a fresh daily high of 1.3000 after a slightly better thanexpected report on US wholesale inventories.
EUR/USD made its way to the 1.3000 psychological level supportedby risk appetite, but lacked momentum to overcome that level asinvestors await any sign of progress in US fiscal cliff talks andahead of the Fed decision scheduled for Wednesday.
At time of writing, EUR/USD is trading at the 1.2990/95 zone,still up 0.4% on the day. From a technical view, Valeria Bednarik,analyst at FXstreet.com argues that the 4 hours chart holds apositive bias, with 1.3020/30 area as immediate resistance level."The downside remains limited by 1.2930/40 price zone".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.
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