EUR/USD extends its advance to fresh highs on the back of yesterday’s FED announcement on QE3. Risk appetite rules the boards, dollar is being sell against almost any rival, and corrections are still been quite limited despite greenback extreme oversold conditions. The EUR/USD hourly chart shows indicators heading slightly lower after recent slide towards 1.3078, still in positive territory, while the price heads back north above a bullish 20 SMA. In the 4 hours chart indicators are strongly up despite deep in overbought territory, with price posting higher highs and higher lows in each candle ever since the FED. The upward momentum is quite strong, although risk of profit taking may increase after London goes home.
Support levels: 1.3075 1.3030 1.3000
Resistance levels: 1.3120 1.3145 1.3180
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