CM: EUR/USD surges above 1.4500 after US trade data
FXstreet.com (Barcelona) - Euro pullback from 1.4485 high on Friday found support at 1.4375, and the pair retraced the whole decline over the European session to squeeze above 1.4500 amid Dollar weakness after higher than expected US Trade deficit, reaching fresh 14-month highs at 1.4115.
On the upside, if the pair manages to confirm above 1.4500, next resistance levels lie at 1.4575 (2010 high), and then probably at 1.4600. On the downside, support levels lie at 1.4420 (Apr 11 low), and below here, (day low), and below here, 1.4290 (Apr 8 low).
US trade deficit narrowed in February to USD45.76 Billion, from revised USD46.97 billion in January, still well above the market consensus of a USD44.3 billion deficit.
