Technical analysts at Ueda Harlow Ltd. believe that the single currency will climb to 1-month maximum versus the greenback.

The specialists note that yesterday the pair EUR/USD managed to rise above key technical levels. According to the daily Ichimoku chart, euro got above conversion and base lines approaching the Cloud. These lines will likely become support for the rate. If the conversion and base lines create a floor, the Ichimoku Cloud will come down and upward pressure for the European currency will gradually increase.

Ueda Harlow projects that EUR/USD may advance to $1.3433 reached on January 4 and December 14 maximum at $1.3499. If euro overcomes these levels, the trend will switch to the upward mode. The lagging Chinkou Span will enter the Cloud and euro should keep advancing, say the analysts.



Chart. Daily EUR/USD

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