EUR/USD hits fresh highs above 1.2950

FXStreet (Córdoba) - EUR/USD recovered further during the last hour of trading in Wall Street and climbed to 1.2956, reaching a fresh daily high. The pair broke above 1.2925 (previous highs) and gained upside momentum, after activating some stops.

The euro is rising 60 pips from yesterday’s closing price again the US dollar; is about to post the highest daily gain in two months. From daily lows it has risen a hundred pips.

EUR/USD bottomed?

“For the first time in weeks, EUR/USD has broken back above a resistance level that was an important support on the journey lower”, said Jamie Coleman from FXBeat. According to Coleman recent price action does not suggest that EUR/USD bottomed but affirms that is a step toward one.