FXstreet.com (Córdoba) - The Euro broke above 1.3450 and rose to 1.3473 after the opening bell at Wall Street, erasing previous losses. EUR/USD moved away from daily lows. The pair bottomed during the European session at 1.3415, reaching a fresh 1-week low. Currently it trades at 1.3467/70, 0.05% below today's opening price.
Greenback is pulling back across the board as stocks and commodities rise, extending its recovery from the lows of the current session.
"The Euro is still oversold, as it has been for much of this year, and bearish pressure has eased a little. Interestingly futures volume continues to be high and open interest not that far off peak despite eleven consecutive weeks or feeble attempts at basing activity", said Nicole Elliot, Senior Technical Analyst at Mizuho Corporate Bank.
