Forex: EUR/USD finds resistance at 1.4280

Fxstreet.com (Barcelona) – After climbing 190 pips in the American session, EUR/USD seems to have found resistance at the 1.4280 level. Currently the pair is trading around 1.4260/70, posting 1.50% daily gains from opening price.

EUR/USD is closing its three positive week in row after easing all of initial losses from 1.4005 to trade around 1.4260/70 and post 0.40% weekly gains from Monday opening price at 1.4230.

Anna Coulling, analyst at Master The Markets, “EURUSD powers through all three moving averages to break above 1.42 as S&P and DOW hold onto gains although volume in both is pitiful. USDJPY finding support at 14 day moving average refusing, so far, to break below 97.73. Cable too pushes up beyond 1.66 so risk appetite is firmly back on the menu this afternoon providing Friday afternoon currency traders with plenty of two way action. With S&P likely to close on a doji candle and very little volume August promises to be an interesting month.”