EUR / USD has extended its purchasing speculators movement above the psychological level of 1.3000 for the second time this month, the highest pair and Meik and summer 2012 and monitor the movement up towards the 1.3200 figure.
Factors that will help the pair rose is a surprise easing by the RBA, which cut interest rates by 25 basis points. In February this year, we saw the highest 1.3190. Chart formations recently made a decent technical analysis leads to an extension of the recent bull move towards the top with a piercing line offers significant bullish signal. At time of writing, the pair is currently trading slightly below the 1.2991 figure with indicators giving bullish signals. Support is seen at 1.2950 and 1.2900 figure.
Support: 1.2983, 1.2975, 1.2969
Resistance: 1.3011, 1.3003, 1.2997