EUR/USD: Euro rises towards 1.3440 intra-day high ahead of U.S. session

The Euro has picked up after hitting intra-day low at 1.3330 and the pair, once consolidated above 1.3400 is setting an assault to intra-day high at 1.3440.

In case of successful move above 1.3440, next resistance would come at 1.3460/65 and above here, 1.3480. On the downside, support levels lie at 1.3400 and below there, next support level lies at 1.3330 and 1.3290.

EUR/JPY recovery from 124.40 low has reached above the 200 day SMA and, according to Mohammed Isah, technical analyst at FXTechstrategy the pair could move further up: “EURJPY was seen trading and closing above its 200 daily ema residing at the 131.59 level in early trading today. A continued hold above this level should bring further upside gains towards its Mar 24’09 high at 134.52 with a clearance of there targeting the 137.41 level, its April 06’09 high.”