Forex: EUR/USD pauses after hitting 1.3465

The euro strengthened and climbed to a fresh 5-day high against the dollar mainly supported by crosses, as EUR/JPY and EUR/CHF advanced on the back of the G7 statement and SNB Jordan comments.

EUR/USD extended its recovery from levels sub-1.3400, and having risen over 100 pips from lows, it hit a high of 1.3465 in recent dealings. However, the cross found resistance and pulled back slightly to currently trade around 1.3440, still up 0.3% on the day.

As for technical levels, if EUR/USD manages to break above the 1.3460/65 zone, next resistances are seen at 1.3500 (psychological level) and 1.3577 (high Feb 7). On the other hand, supports could be found at 1.3360 (intraday low), 1.3325 (low Feb 11) and 1.3300 (psychological level).